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Rich Erario Named Head of U.S. Bank Global Treasury Management

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NEW YORK, Sep 24, 2015 (BUSINESS WIRE) -- U.S. Bank has named Rich Erario head of it global treasury management division. Erario succeeds Jeffrey Jones, who was recently promoted to president of the bank’s corporate payment systems division.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150924005103/en/

“We set out several years ago to grow our global treasury management business on the foundation of understanding and advocating for our clients. Rich has been integral to this initiative and we’re pleased to be able to promote from within the division,” said Leslie Godridge, executive vice president for national corporate specialized industries and global treasury management for U.S. Bank.

Based in New York City, Erario joined U.S. Bank five years ago as a senior vice president in the division. During that time he’s been a leader in developing and implementing its “Working Capital DNA” engagement program, a consultative, client-focused approach that was named best in the industry this year by Global Finance.

Aimed to help clients optimize their working capital, the Working Capital DNA Engagement process provides a complete and thorough working capital analysis through two one-hour sessions of client-required commitment. Over the last three years, the bank has conducted more than 3,000 sessions.

“When developing a long-term cash management strategy for a client’s unique needs, it’s critical for us to have a holistic understanding of their processes as well as their corporate culture,” Erario said. “We’ve built a way to do this efficiently through structured conversations and recommendations tied to quantifiable ROI results.”

Erario is a graduate of Adelphi University and has more than 30 years of experience in corporate and consumer banking, including managing director and division head roles at JPMorgan Chase in New York City. U.S. Bank’s presence in greater New York City continues to grow and has emerged as a key wholesale banking hub. Today, it employs more than 500 people in the market, more than triple from 2008.

About U.S. Bank
Minneapolis-based U.S. Bancorp USB, -1.53% with $419 billion in assets as of June 30, 2015, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Company operates 3,164 banking offices in 25 states and 5,020 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions.

Pope Francis gets political in Washington debut

Pope Francis immediately dove into the whirlpool of U.S. politics on Wednesday, using his first direct address to the nation to weigh in on deeply divisive issues including climate change, Cuba, and traditional marriage as he was greeted by exuberant crowds packing the streets of Washington.

The pontiff lived up to his reputation for blunt talk at a welcoming ceremony at the White House, introducing himself as the son of the kind of "immigrant family" on which America was built -- a clear reference to the controversy swirling around millions of undocumented people in the country.

Speaking in English, the Argentine-born Francis also said he was ready to listen to the "hopes and dreams of the American people" and to offer guidance to those charged with shaping the nation's political future "in fidelity to its founding principles."

And in comments that could antagonize Republicans, Francis endorsed President Barack Obama's efforts on climate change and rebuilding ties with Cuba after more than half a century of estrangement.

Wednesday, which began with pomp and politics and ended with a controversial canonization, was the Pope's first full day in the United States. The 6-day visit will take him later this week to New York, where he will address the United Nations, and Philadelphia for the World Meeting of Families, a large Catholic event that is expected to draw nearly a million pilgrims to papal Masses.

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He told the president that it was "encouraging that you are proposing an initiative for reducing air pollution. Accepting the urgency, it seems clear to me also that climate change is a problem that can no longer be left to a future generation

"When it comes to the care of our 'common home' we are living at a critical moment of history," he said.

Francis is using the global platform offered by his first-ever visit to the United States to emphasize the theme at the center of his two-year-old papacy: challenges like climate change, income inequality and the plight of immigrants are moral -- not political -- issues. And, he said, the richest, most developed countries have an obligation to act.

"I would like all men and women of good will in this great nation to support the efforts of the international community to protect the vulnerable in our world and to stimulate integral and inclusive models of development," Francis said, in comments that reflect what he sees as a more inclusive vision of capitalism.

5 things to watch Wednesday with the Pope in D.C.

While some of these themes were sure to please the left, he also delivered a firm defense of traditional values, warning that the institution of marriage and family needed to be protected at "a critical moment in the history of our civilization." Those remarks could irk liberals months after the Supreme Court ruled in favor of same-sex marriage nationwide