Magazine : Archives : 2nd Quarter 2011
Fast Break
Richard Davis took the helm of U.S. Bancorp at the end of 2006, just before the first winds of a devastating credit storm began to kick up. At the time, the Minneapolis-based banking company was viewed as boring and conservative—a place that was profitable enough, but under former Chairman and Chief Executive Officer Jerry Grundhofer pinched too many pennies and had, to the wonderment of many, all but sat out one of the biggest booms in U.S. financial history. Davis, Grundhofer’s long-time lieutenant, had something a little more aggressive in mind. A big sports fan, he employed a cross-sports metaphor...
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