NEW YORK--(BUSINESS WIRE)--U.S. Bank has named Rich Erario head of it global treasury management division. Erario succeeds Jeffrey Jones, who was recently promoted to president of the bank’s corporate payment systems division.
“We set out several years ago to grow our global treasury management business on the foundation of understanding and advocating for our clients. Rich has been integral to this initiative and we’re pleased to be able to promote from within the division,” said Leslie Godridge, executive vice president for national corporate specialized industries and global treasury management for U.S. Bank.
Based in New York City, Erario joined U.S. Bank five years ago as a senior vice president in the division. During that time he’s been a leader in developing and implementing its “Working Capital DNA” engagement program, a consultative, client-focused approach that was named best in the industry this year by Global Finance.
Aimed to help clients optimize their working capital, the Working Capital DNA Engagement process provides a complete and thorough working capital analysis through two one-hour sessions of client-required commitment. Over the last three years, the bank has conducted more than 3,000 sessions.
“When developing a long-term cash management strategy for a client’s unique needs, it’s critical for us to have a holistic understanding of their processes as well as their corporate culture,” Erario said. “We’ve built a way to do this efficiently through structured conversations and recommendations tied to quantifiable ROI results.”
Erario is a graduate of Adelphi University and has more than 30 years of experience in corporate and consumer banking, including managing director and division head roles at JPMorgan Chase in New York City. U.S. Bank’s presence in greater New York City continues to grow and has emerged as a key wholesale banking hub. Today, it employs more than 500 people in the market, more than triple from 2008.
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB), with $419 billion in assets as of June 30, 2015, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Company operates 3,164 banking offices in 25 states and 5,020 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.