Big bank to add 4,500 jobs next year

by MPA24 Nov 2014
In part to meet increasing regulatory demands, one of the nation's largest banks has plans to add 4,500 more positions in 2015.

Richard Davis, CEO of U.S. Bancorp, recently said in a Bloomberg Television interview, that many of the new jobs will be in compliance and auditing and some will be filled by veterans and people out of work for longer than six months.

Davis added the Minneapolis-based bank will finish this year with about 67,000 employees and 2015 with as many as 70,000, compared with about 65,500 at the end of 2013, according to Bloomberg.

During the third quarter, the lender reported a $1.5 billion profit, which changed very little from the previous year. Like many banks, U.S. Bancorp has experienced a decline in its residential mortgage business. It relies on fees from businesses including credit cards and auto financing.



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