U.S. Bancorp (USB) Presents at Morgan Stanley US Financials Conference 2025 Transcript

U.S. Bancorp (NYSE:USB) Morgan Stanley US Financials Conference 2025 June 11, 2025 8:15 AM ET

Company Participants

Gunjan Kedia - President, CEO & Director
John C. Stern - Vice Chair & Chief Financial Officer

Conference Call Participants

Betsy Lynn Graseck - Morgan Stanley, Research Division

Betsy Lynn Graseck

Okay. Great. Thank you everybody for joining us this morning. I'm going to read us the disclosure. For important disclosures, please see Morgan Stanley Research Disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. Okay. There was my disclosure announcement.

This morning, we are delighted to have with us today from U.S. Bancorp, Gunjan Kedia, CEO and President of U.S. Bancorp. Thanks so much for joining us, Gunjan.

Gunjan Kedia

It's a pleasure.

Betsy Lynn Graseck

And John Stern, Vice Chair and Chief Financial Officer.

John C. Stern

Good morning. Thank you. Great to be here.

Question-and-Answer Session

Betsy Lynn Graseck

Thanks so much. Well, we have a lot to get through this morning, but I'll let I would like to kick off with strategy, Gunjan.

Gunjan Kedia

Sure.

Betsy Lynn Graseck

And you've been a very visible member of the management team at U.S. Bancorp for many years, and formerly took over as CEO at the beginning of this year, right? And I suppose I should say, the beginning of this quarter.

Gunjan Kedia

That's right.

Betsy Lynn Graseck

Okay. You've worn many hats both inside and outside USB. And I would just like to kick off by asking how you think your background varied and diverse background that you have is going to shape the way that you run USB as CEO.

Gunjan Kedia

Well, good morning again, Betsy. And this is my first conference after I officially assumed my role. So thank you for