Davis, 59, is executive chairman of U.S. Bancorp, a financial services holding company with more than $450 billion in total assets and businesses across the United States, Canada and Europe. U.S. Bancorp is headquartered in Minneapolis and is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,091 banking offices in 25 states and 4,838 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is also the parent company of Elavon, a global leader in the payment processing industry.
U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. U.S. Bancorp was also awarded the 2013 Freedom award which is the highest recognition given by the U.S. Department of Defense to employers for their support of their employees who serve in the National Guard and Reserve.
Davis began his banking career as a teller at age 18, worked his way through college. He became CEO of U.S. Bancorp in 2006 and chairman of the board in 2007, previously having been a senior executive with the organization and its predecessors since 1993.
Davis has been an influencing force in the banking industry for almost 40 years. His leadership and prudent approach to financial management has garnered national and international praise for U.S. Bancorp, which has emerged as strong and stable following one of the most difficult chapters in banking history. His outstanding leadership skills were recognized as he was named the “2010 Executive of the Year” by the Twin Cities Business Journal and “2010 Banker of the Year” by the American Banker.
During his career Davis has held executive level positions with Bank of America and Security Pacific Bank, both in Los Angeles, and with legacy organizations of today’s U.S. Bancorp, which include the former Firstar Corporation in Milwaukee and Star Banc Corporation in Cincinnati.
Davis’ enthusiasm for his industry is equally prevalent in his civic and philanthropic commitments. Davis serves on the boards of the Xcel Energy Inc., Dow Chemical board and is executive chairman of the board of U.S. Bancorp. He also serves on the Twin Cities YMCA, University of Minnesota Foundation, Greater MSP, National American Red Cross, Minnesota Business Partnership, and the Itasca Group. Davis has been honored by the Banking and Finance Division of the UJA-Federation of New York and has been the recipient of the President’s Lifetime Volunteer Service Award. In 2011, he received the Henrickson’s Award for Ethical Leadership.
U.S. Bank has been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a World’s Most Ethical Company for the past three consecutive years. Additionally, Fortune named U.S. Bank the Most Admired Superregional Bank seven years in a row. Davis was also named one of the 100 Most Influential People in Business Ethics by the Ethisphere Institute in 2015.
Davis earned a bachelor’s degree in economics from California State University at Fullerton, and is married and the father of three adult children and has four grandchildren.