US Bancorp said that John Stern will succeed Kenneth Nelson as corporate treasurer, effective 1 July 2013. Nelson, who has served as executive vice president (EVP) and corporate treasurer since 2008, has announced his retirement.
Stern is currently senior vice president (SVP) and manager of corporate funding and derivatives and has been in that group since 2002. Stern joined the bank in 2000.
Nelson has been with US Bancorp since 1984. He holds a bachelor’s degree in business administration and economics from Mankato State University and his MBA from the University of St. Thomas.
Stern earned his bachelor’s degree in business from the Carlson School of Management at the University of Minnesota and his MBA from the University of St. Thomas.
Minneapolis-based US Bancorp is the parent company of US Bank National Association, the fifth largest commercial bank in the US.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
Despite faster payment technologies, business-to-business payments by paper cheque show no sign of decline from three years ago.