MINNEAPOLIS & CHARLOTTE, N.C.--(BUSINESS WIRE)--U.S. Bank today announced that Stephen Philipson has been promoted to head of Fixed Income & Capital Markets (FICM), effective immediately. Philipson will have responsibility for all sales, trading and origination, as well as risk and funding for the FICM businesses – Capital Markets, Credit Fixed Income, Derivative Products, Foreign Exchange and Municipal Products. He will remain in Charlotte, North Carolina, where U.S. Bank has nearly 700 employees.
“Stephen’s strategic leadership and client focus are exemplary,” said Jim Kelligrew, vice chairman and co-head of Wholesale Banking. “I am confident that Stephen will continue to drive growth in Fixed Income & Capital Markets and help us build on our reputation as the most trusted choice for our clients.”
Philipson joined U.S. Bank in 2009 and most recently held the position of head of Credit & Municipal Fixed Income. During his tenure at U.S. Bank, he has helped build the Credit Fixed Income group into one of the nation’s fastest-growing corporate bond businesses, ranked in the Top Five in Thomson Reuters lead and co-managed domestic investment grade league table. Stephen has more than 16 years of fixed income and capital markets experience, including roles at Wachovia/Wells Fargo Securities and Morgan Stanley.
Philipson earned his B.A. from Washington and Lee University and currently serves on the board of directors of U.S. Bancorp Investments, Inc. and the ABA Securities Association. He is an active leader in the community, serving on the board of directors of Temple Beth El and as co-chair of the board of directors for Opera Carolina. He also serves on the board of governors of Isidore Newman School and is a member of the Founders’ Circle of the Mint Museum of Craft + Design.
Douglas Fink and James Whang will succeed Philipson as co-heads of Credit & Municipal Fixed Income. Most recently, Fink served as head of Debt Capital Markets at U.S. Bank and Whang as head of Credit & Municipal Fixed Income Sales and Trading at U.S. Bank.
Minneapolis-based U.S. Bancorp (NYSE: USB), with $464 billion in assets as of June 30, 2017, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,088 banking offices in 25 states and 4,826 ATMs, and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.