Indian American banker Gunjan Kedia is set to make history as the first woman chief executive of U.S. Bancorp, effective April 15, joining only a handful of female CEOs in the finance sector.
Currently President of the Minneapolis-based bank with more than 70,000 employees and $678 billion in assets as of December 31, 2024, Kedia will will replace Andy Cecere, who served as the company’s CEO since 2017 and as its chairman since 2018.
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Cecere will serve as executive chairman, continuing to lead the Board of Directors and supporting Kedia, who was also elected to the company’s Board of Directors, as she assumes her new role, the bank announced Jan 28.
“We are inspired by Gunjan’s vision for the company, and we are confident in her ability to guide U.S. Bancorp into a vibrant and engaging future that honors the past while achieving new possibilities,” said U.S. Bancorp Lead Independent Director Roland Hernandez.
Kedia, 54, joined U.S. Bancorp, the fifth largest bank in America, in 2016 and has been an influential leader within the bank, most recently serving as president and overseeing the revenue lines.
She has spent nearly 30 years in financial services, serving in global executive positions at State Street Financial and BNY, as well as holding leadership roles at McKinsey and Company and PwC. She is a seven-time honoree on the American Banker Most Powerful Women in Banking and Finance lists and has been named twice to the Barron’s 100 Most Influential Women in U.S. Finance list.
She holds a master’s degree in business administration with distinction from Carnegie Mellon University and a bachelor’s degree in engineering, also with distinction, from the Delhi School of Engineering. She sits on the board of directors for PBS, American Red Cross and Carnegie Mellon Business School.
“U.S. Bancorp is a truly special place that allows us to do meaningful work and build lasting relationships with millions of clients who are navigating some of the most important moments in their lives and organizational journeys,” Kedia said. “I am deeply honored to be trusted to lead this iconic company, and I am thankful to Andy for his leadership and his stewardship of our organization. We will build on a solid foundation of integrity and doing business the right way to drive growth. These values will continue to guide us toward an ambitious future – one we will build together.”
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Cecere described Kedia as “an influential executive who understands our business, is skilled in strategic execution, and is driven to help the organization perform at our best. She is a terrific leader who is poised to confidently guide U.S. Bancorp into the future in partnership with an experienced leadership team and 70,000 dedicated employees.”