Sunday, Jun. 25, 2006, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
SACRAMENTO, Calif. (June 26, 2006) -- U.S. Bank announced it has named Tom Pritchard president of its dealer commercial services division. Before his promotion, he served as national market manager for the bank's dealer commercial services unit. Company executives said Pritchard is a 26-year veteran of banking, with experience primarily in dealer finance. In his new role, executives said Pritchard will be in charge of leading the growth and expansion of the company's dealer portfolio. "U.S. Bank has served the needs of dealers for more than 40 years as a value-added provider of financial services," said Joseph Otting, vice chairman and head of commercial banking for U.S. Bank. "Tom has been instrumental in maintaining U.S. Bank's competitive advantage in providing comprehensive banking services to dealers as we have grown this important segment. "We are confident in his leadership to continue that momentum in the months and years to come," he added. Pritchard will report to Otting. With assets of $210 billion, U.S. Bancorp said it is the sixth largest financial holding company in the U.S.