By Sabela Ojea

U.S. Bancorp said it has expanded the roles of board member Stephen Philipson and former head of U.S. Bank corporate banking Felicia La Forgia to push the bank's wealth, corporate, commercial and institutional banking team.

The lender on Tuesday said Philipson, who serves as head of global markets and specialized finance, will now also lead the collection of all WCIB product businesses that provide solutions for the company's wealth and institutional client segments.

La Forgia has been promoted to lead a newly formed unit called the institutional client group, managing client relationships across regions and sectors.

Both divisions will work together to provide core banking, specialized lending, transaction and payment processing, capital markets, asset management, and brokerage and investment-related services to wealth, middle market, large corporate, government and institutional clients, U.S. Bancorp said.

Write to Sabela Ojea at; @sabelaojeaguix

(END) Dow Jones Newswires

06-04-24 1350ET