US Bank has named Kurt Adams head of corporate payment systems (CPS), succeeding Robert Abele, who is retiring on 30 June after 20 years with the company. US Bank CPS issues corporate, government, purchasing, fleet and aviation cards, as well as business-to-business (B2B) payment products, which in total comprised more than US$44bn in processed annual sales volume in 2010.
Adams, who was head of strategy and programme management for CPS, oversaw corporate strategy, product strategy and programme management for programmes such as travel and entertainment, payables, fuel, and transportation. In addition, Adams led the strategic planning process and merger and acquisition (M&A) activity for the business.
Previously, Adams was head of European strategy and planning for the bank’s Elavon Merchant Services division, based in Dublin, Ireland. During his tenure, he directed US Bank’s successful acquisition of Citibank’s European merchant acquiring business.
Adams joined US Bank in 2005. Prior to that, he spent five years as vice president of Piper Jaffray’s investment banking group in Minneapolis, where he managed financial technology and services-related M&As, public offerings and the private placement of equity and debt securities. Adams holds a bachelor’s degree from Arizona State University and an MBA from Notre Dame.
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