MINNEAPOLIS–Oct. 28, 2005–Two U.S. Bancorp
(NYSE:USB) executives have been honored by Finance and Commerce.
Jennie Carlson, executive vice president and director of human
resources, and Diane Thormodsgard, president of Corporate Trust,
Institutional Trust & Custody Services, were named two of the 15 “Top
Women in Finance.” Carlson, Thormodsgard and the 13 other honorees
were recognized during an awards luncheon at the Marriott City Center
in downtown Minneapolis on Tuesday, Oct. 25. All honorees are featured
in the “Top Women in Finance” special publication in the Oct. 27
edition of Finance and Commerce. This is the first time that two
people from one company have won a “Top Women in Finance” award the
same year.
“U.S. Bancorp is proud of Jennie and Diane for their outstanding
contributions to the company,” said Jerry Grundhofer, chairman and
chief executive officer, U.S. Bancorp. “Jennie’s exemplary leadership
overseeing the company’s employment and employee relations areas,
which include recruiting, succession planning and leadership
development, is admired by many. Diane has an extensive record of
exceptional performance, having orchestrated the largest corporate
trust acquisition in the history of the industry. Jennie and Diane
have earned this honor.”
Carlson is responsible for U.S. Bancorp’s employment and employee
relations areas, which include recruiting, succession planning and
leadership development. She is also responsible for U.S. Bancorp’s
payroll function, which exceeds $2 billion annually, and the design
and administration of the company’s employee health and welfare, and
retirement plans. Before assuming her position in human resources,
Carlson was a member of the U.S. Bancorp legal team. She led the legal
group as general counsel and corporate secretary at Firstar and Star
Bank, predecessor companies to U.S. Bancorp. Carlson also successfully
managed the legal aspects of a number of bank mergers for the company.
Carlson currently serves on the board of directors of the
Minneapolis Children’s Theatre Company and the Minnesota Center for
Book Arts. Carlson earned her juris doctorate from Vanderbilt
University School of Law and a bachelor’s degree from Centre College
of Kentucky. She resides in Edina, Minnesota, with her husband,
Richard, and their daughter.
Thormodsgard manages the Corporate Trust Services business line,
which is a leading provider of corporate trust and escrow services in
the country. She also manages Institutional Trust & Custody Services,
which offers retirement, investment and custody services to clients
through its national network of offices. Thormodsgard is responsible
for total revenues of approximately $450 million; $2.0 trillion in
assets under administration; 760,000 bondholders; as well as 1,500
employees; and 70 offices throughout the United States.
Thormodsgard serves on the boards of the St. Paul Chamber of
Commerce, St. Paul Chamber Orchestra, Minnesota Church Foundation, and
Central Corridor Partnership. She is also a member of the Lutheran
Social Services Finance Committee, Minnesota Society of Certified
Public Accountants and American Institute of Certified Public
Accountants. Thormodsgard earned a Masters of Business Administration
from the University of Minnesota and a Bachelor of Arts degree in
mathematics, economics, and accounting from Luther College in Decorah,
Iowa. She resides in Plymouth, Minnesota, with her husband, Gaylord.
U.S. Bancorp, with assets of $207 billion, is the 6th largest
financial services holding company in the United States. The company
operates 2,396 banking offices and 4,986 ATMs, and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. U.S. Bancorp is home of the Five Star Service
Guarantee which assures customers of certain key banking benefits and
services or customers will be paid for their inconvenience. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the
web at usbank.com.
CONTACT: U.S. Bancorp
Media Relations
Amy Frantti, 612-303-0733
