U.S. Bancorp (NYSE: USB), parent company of U.S. Bank, announced today that Toby Clements will become its new senior executive vice president and chief operations officer. In this role, Clements will oversee the company's client service centers and global operations teams, leading more than 16,000 employees. He will report directly to U.S. Bancorp Chief Executive Officer Gunjan Kedia effective April 13.

Clements will join the company's managing committee and succeed Souheil Badran, who announced his retirement from the company earlier this year.