PORTLAND, OR-An executive vice president of commercial banking with the Union Bank of California will be the next president of U.S. Bank in Portland. In January, Joseph M. Otting will replace John H. Rickman, who announced in November that he will retire from U.S. Bank at the end of the year after more than 38 years of service.

Otting has been with Union Bank of California for more than 15 years. Most recently he was executive vice president and group head of commercial banking, but he also has done stints in corporate and middle market commercial banking, commercial finance, equity sponsored lending, global trade activities and owner occupied real estate lending.

Jerry Grundhofer, president and chief executive officer of U.S. Bancorp, the parent company of U.S. Bank in Portland says he expects Otting to “continue to build on the solid foundation that John has established in the market.” U.S. Bancorp is the 8th largest financial services holding company in the United States.

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