U.S. Bank Recruits Citi Executive to Lead Payments in Key Growth Sectors

Calvert Lange, a former executive at Citi, has been appointed by U.S. Bank to lead their payment and treasury solutions for technology, media, telecom, automotive, transportation, consumer and hospitality companies. Lange will serve as the senior vice president and head of the Payments: Merchant and Institutional (PMI) sales group within U.S. Bank’s Institutional Client Group (ICG) for the Technology, Transportation, Consumer and Hospitality sectors.

The appointment comes as U.S. Bank aims to strengthen its relationships and expand its growth in these key sectors. Lange brings over 18 years of experience in payments and treasury services, having previously led Citi's Payments & Liquidity Product Sales group and held leadership roles in Citi’s commercial cards business and Deutsche Bank’s Global Transaction Banking division.

She emphasizes the need for companies to adapt to changing customer expectations and navigate the rapidly evolving payments landscape. U.S. Bank's payment services revenue increased by 5.7% year-over-year to $1.8 billion, contributing approximately 23% of the company's total revenue, according to the company's recent earnings report.