A Charlotte-based executive for U.S. Bank has been promoted to co-head the bank's wholesale banking division.
Jim Kelligrew, a veteran of Wachovia Corp. and Bank of America, will remain based in Charlotte, U.S. Bank said in announcing his promotion this week. Most recently, Kelligrew served as head of fixed income and capital markets, an operation he ran from uptown’s Hearst Tower.
U.S. Bank, part of Minneapolis-based U.S. Bancorp, ranks as the nation’s fifth-largest commercial bank by consolidated assets.
In Charlotte, the bank doesn’t operate any retail branches, but it has expanded in other lines of business here since entering the market in 2005 with its acquisition of Wachovia's corporate trust and institutional custody businesses.
According to the bank, it employs about 350 people in Charlotte across four areas: wholesale banking, compliance, corporate trust and commercial real estate. That’s up from about 100 in 2008.
Kelligrew, 50, joined U.S. Bank in 2009 to head its high-grade fixed income group as the bank established the business that year. The business has remained headquartered in Charlotte, where Kelligrew oversaw the launch of a bond-trading floor in Hearst Tower in 2009.
He will continue to oversee fixed income and capital markets in his new role.
Kelligrew, whose latest promotion comes with a vice chair title, will co-head wholesale banking with New York-based Leslie Godridge. Godridge is being promoted from head of national corporate banking specialized industries and global treasury management.
Charlotte is one of three primary hubs for the wholesale banking division, whose clients include middle-market, large corporate and commercial real estate firms. The division employs about 120 in Charlotte. The other hubs are New York and Minneapolis.
Godridge and Kelligrew will report to Chief Operating Officer Andy Cecere. The two have also joined the bank’s 15-member managing committee.
Godridge and Kelligrew are succeeding Richard Payne, a former Bank of America and Wachovia banker, who will retire in the spring.