U.S. Bancorp will have a new chief financial officer, the company said Monday.
Kathy Rogers will step down Aug. 1 "due to changing family circumstances and the need to be in Cincinnati full-time," the bank said in a statement.
Terry Dolan, the current head of wealth management and securities services for U.S. Bank, will succeed Rogers.
Dolan has been with U.S. Bank for almost 18 years and has run wealth management since 2010. The division's revenue has grown about 30 percent under his leadership, the bank said, and profit has grown 18 percent. A successor for him hasn't been chosen.
Rogers became CFO in early 2015, when she replaced Andy Cecere, who was promoted to chief operating officer. Cecere, now the company's president, is widely considered Chief Executive Richard Davis' heir apparent.
The bank has performed solidly, churning out nearly $6 billion in profit each year for four years. Profit fell a little in the first quarter.
Rogers' history working with Davis goes back to the early 1990s. She came up at First National Bank of Cincinnati, which changed its name to Star Bank, and then was taken over by new leaders from California, including Davis, who engineered a series of mergers to create what is today U.S. Bancorp.
Before she was CFO, Rogers managed the company's stress-test process, trying to navigate and comply with new federal reporting rules. She will return to that job in August.
"Executive development is an ongoing conversation at U.S. Bank," Davis said in a statement. "We are fortunate to have a board of directors that demands bench strength and leadership versatility."
Adam Belz • 612-673-4405
