News

U.S. Bank names Jimmy Whang
head of Commercial Products 

June 28, 2023

Whang to lead fixed income, capital markets and working capital finance businesses 

U.S. Bank today announced that Jimmy Whang has been named the head of its Commercial Products group, effective June 30. In this role, Whang will lead Fixed Income and Capital Markets (Capital Markets and Sponsor Finance; Credit Fixed Income; Structured Credit; Derivatives; Foreign Exchange; Municipal Products; and ESG strategies) and Working Capital Finance (Asset Based Finance; Global Trade and Supply Chain Finance).

“Jimmy has an exceptional track record of anticipating needs and partnering with our clients – corporate and midsize, sponsors, government and not-for-profit – on finance solutions that help them succeed,” said Stephen Philipson, head of Global Markets and Specialized Finance. “With Jimmy’s leadership and focus on delivering best-in-class products and expertise to our clients, we’ll continue to grow this important business, which now ranks among the top banks in bond and loan underwriting, as well as interest rate and currency hedging for corporations.”

Whang, who joined U.S. Bank in 2009 and helped it become one of the top originators of investment-grade bonds, most recently served as head of Credit Fixed Income, Municipal Products, and Structured Credit. In this role, he oversaw the bank's corporate and municipal bond origination, sales, and trading activities. Additionally, he was responsible for structured credit products, including asset backed securities, collateralized loan obligations, and subscription finance. Before joining U.S. Bank, Whang had senior roles at top financial institutions in both New York and Charlotte. Today, he is based in Charlotte, where U.S. Bank has a significant presence.

Whang replaces Stephen Philipson, who was recently promoted to a new role overseeing Global Markets and Specialized Finance (GMSF). In addition, Philipson was elevated to the U.S. Bank Managing Committee, its senior-most leadership group. GMSF includes the following businesses: Commercial Products, Global Corporate Trust and Custody, U.S. Bank Equipment Finance, and U.S. Bancorp Asset Management.

GMSF is part of U.S. Bank’s Wealth, Corporate, Commercial and Institutional Banking (WCIB) organization. One of the core business lines at U.S. Bank, WCIB also includes Commercial Banking, Commercial Real Estate, Corporate Banking, Global Fund Services, and Wealth Management. The business line is led by U.S. Bank Vice Chair Gunjan Kedia.

# # #

Contact:

Todd Deutsch, U.S. Bank Public Affairs & Communications

todd.deutsch@usbank.com | 612.303.4148


About U.S. Bank

U.S. Bancorp, with approximately 77,000 employees and $682 billion in assets as of March 31, 2023, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. Union Bank, consisting primarily of retail banking branches on the West Coast, joined U.S. Bancorp in 2022. U.S. Bancorp has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2023 World’s Most Ethical Companies.

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Kroger Rewards World Elite Mastercard® gives cardmembers savings of 25¢ off per gallon of fuel plus 5% back on mobile wallet spend.

U.S. Bank and State Farm® offer customers new business banking products

First-of-its-kind arrangement expands alliance between U.S. Bank and State Farm.

How U.S. Bank built a world-class digital accessibility practice

We’re creating an industry-leading experience for people with disabilities.

U.S. Bank announces new cryptocurrency custody services for institutional investment managers

NYDIG will act as sub-custodian.

U.S. Bank Recognized for Supporting Small Businesses

U.S Bank unveils U.S. Bank Nuestra Herencia™ Visa® Debit Card and donates $200,000 to The Cheech Marin Center for Chicano Art & Culture of the Riverside Art Museum and Artist In Residence Program.

U.S. Bank named best big bank in 16 states by Newsweek

Banks evaluated on customer service, savings and checking accounts, and digital tools during COVID-19 pandemic.

U.S. Bank celebrates expansion into Charlotte and its 26th state

The new branch featured a team of bankers and the latest technology.

U.S. Bank acquires talech

Businesses gain simplicity, efficiency and ability to compete in rapidly-growing digital marketplace.

U.S. Bank to acquire small business payments software company, Bento Technologies

Continues expansion of world-class digital capabilities for small businesses.

U.S. Bank initiative with CDFIs will invest in developers of color

Grants to CDFIs will provide technical assistance to real estate developers of color.

U.S. Bank, Enterprise Community Partners announce innovative racial equity bond

The $30 million bond will support housing developers of color.

U.S. Bank announces acquisition

U.S. Bancorp Asset Management will acquire PFM Asset Management.

U.S. Bank provides update on commitment to addressing economic inequities

In the aftermath of George Floyd’s killing in Minneapolis a year ago, our company committed to several initiatives to address social and economic inequities.

Meet Felicia La Forgia, head of U.S. Bank Corporate Banking

New York City leader talks about her immigrant parents’ influence and her new role at one of the largest banks in the United States.

For Juneteenth, heed ‘Separate and Unequal’ warning and move forward together

Our Chief Diversity Officer Greg Cunningham reflects on the historic Kerner Commission – and expresses optimism that this time will be different.

Get to know Hassan Salem, the new head of Commercial Banking at U.S. Bank

Based in Denver, the ski industry expert and theater fan leads a national team serving middle market clients.

U.S. Bank details new cryptocurrency offerings

We’re launching three new initiatives to meet growing needs of clients.

U.S. Bank investing in currency management provider Lumint

Earlier this year, we launched a new passive currency hedging service powered by Lumint technology.

U.S. Bank launches VantagePoint Accounts Receivable Matching

This feature further enhances our leading corporate accounts receivable automation service.

U.S. Bank appoints Marcus Martin head of ESG for Fixed Income & Capital Markets

Martin brings twenty years of industry experience and an established record of success.

Milwaukee developer Brandon Rule aims to help close the racial wealth gap

As part of broad commitment, U.S. Bancorp Community Development Corporation is working to deepen relationships with Black developers.

Barron’s names Gunjan Kedia to 100 Most Influential Women in U.S. Finance

Kedia is vice chair of Wealth Management and Investment Services at U.S. Bank.

This U.S. Bank branch on wheels brings new meaning to mobile banking

When disaster strikes, our Mobile Financial Center ensures customers have access to essential banking services.

U.S. Bank first to offer new AI-powered savings feature

The patented Pay Yourself First feature gives customers intelligent recommendations to increase savings.

State Farm® and U.S. Bank unveil new consumer and business credit cards

State Farm customers can receive cash back on insurance premium payments and the things they buy every day.

U.S. Bank launches Simple Loan to meet customers’ short-term cash needs

Customers can borrow between $100 and $1,000 with no hidden fees.

U.S. Bank Voyager Fleet Program expands to government agencies, schools, more

Our contactless payment solution is now available through Sourcewell.

U.S. Bank customers embrace faster, simpler way to open digital accounts

Digital checking account openings up 200% year-over-year following launch of new application experience.

U.S. Bank commits $116 million to address social and economic inequities

We’re also rebuilding in our hometown Minneapolis to continue to support customers.

U.S. Bank announces several key leadership changes

The executive appointments further our commitment to people, diversity, equity and inclusion, and business transformation.

U.S. Bank adding retail banking to Charlotte presence in 2019

The first branch to be located at 201 S. Tryon Street in historic Uptown area.

State Farm and U.S. Bank announce strategic alliance

State Farm and its affiliates are the largest providers of auto and home insurance in the United States.

New ranking says U.S. Bank has been most essential bank amid COVID-19 pandemic

The Harris Poll ranking polled Americans on resolve, trustworthiness, responsiveness and permanence.

More than 75,000 small businesses secure PPP loans through U.S. Bank

Loans have the potential to support more than 800,000 employees across the country.

Introducing the U.S. Bank Smart Assistant

A unique voice-forward approach will give customers a simplified, intuitive way to bank unlike any other – just ask.

USBCDC finances $50 million in capital to CDFIs amid pandemic

The seven CDFIs receiving capital are across the country.

What the ADA anniversary means to me

Accessibility consultant Christina Granquist shares how designing for disabilities shaped the new voice assistant in the U.S. Bank Mobile App.

Introducing U.S. Bank Access Commitment

It is a series of initiatives across the business to increase wealth building opportunities, starting with the Black community.

Amid record usage, U.S. Bank mobile check deposit named best in class

The continually improving feature is one of many ways that we have served customers amid the pandemic.

1992 kicked off years of rapid change at U.S. Bank

Our Minnesota-based company, and banking itself, looked very different the last time the big game came to town.

100 million transactions later, debit card proves to be a point of Pride

The community-inspired card design empowers customers to turn simple payments into meaningful actions.

Veteran organization finds support, and saves funds with the U.S. Bank team

For nonprofit organizations like the Marine Corps Coordinating Council, the dollars saved with U.S. Bank products make a difference in serving their community

U.S. Bank CFO Survey: Corporate finance leaders tighten belts amid uncertainty

Survey of more than 2,000 U.S. corporate finance leaders revealed the top two priorities are cost control within finance function and across the business

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