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# U.S. Bancorp's Shailesh Kotwal to Retire from Payment Services Role in First Half of 2025
- URL: https://www.theglobalbanker.com/us-bancorp-shailesh-kotwal-retire-payment-services-2025/
- Published: 2024-08-22T18:06:00.000Z
- Updated: 2026-10-02T13:32:59.000Z
- Description: U.S. Bancorp announced that Shailesh Kotwal, Vice Chair of Payment Services, will retire in the first half of 2025 after nearly a decade leading the division.
- Author: TGB Editorial Team
- Tags: Executive Moves, Americas, #archive

U.S. Bancorp announced on 21 August 2024 that Shailesh Kotwal, Vice Chair of Payment Services, intends to retire in the first half of 2025, closing out nearly a decade of leadership in payments at the Minneapolis-based banking group. The announcement, made in a press release and an 8-K filing, confirmed that a search for new Payment Services leadership had begun immediately following the disclosure.

Kotwal is 60\. The bank said the search for his successor would begin without delay.

#### THE PAYMENT SERVICES DIVISION

U.S. Bank's Payment Services division provides digital- and card-based payments and money movement capabilities to consumers, businesses and institutions in the United States and Europe. 

The bank did not specify a formal end date for Kotwal's tenure beyond the first-half 2025 window. 

#### SEARCH FOR SUCCESSOR BEGINS IMMEDIATELY

U.S. Bancorp did not provide details on the process or a timeline for a final appointment.

Chairman and CEO Andy Cecere said: "For nearly a decade, Shailesh has been a forward-looking champion of payments and money movement." Kotwal will remain in his role for several months to ensure a smooth transition for employees, clients and partners.