Tony Cracchiolo, president & CEO of U.S. Bank, has revealed his decision to retire in July. With a remarkable 52-year career, including the last 17 years at U.S. Bank, Cracchiolo leaves behind a legacy of growth and leadership.
During his tenure at U.S. Bank, Cracchiolo played a pivotal role in expanding the bank’s equipment finance division. Under his guidance, it grew into one of the largest equipment finance providers in the country.
Here are some key highlights from Tony Cracchiolo’s distinguished career:
- Early Beginnings: Cracchiolo’s career began in 1972 at Chemical Bank (now part of JPMorgan Chase). His foundational experience laid the groundwork for his future accomplishments.
- Citicorp Years: Before joining U.S. Bank in 2007, Cracchiolo spent 29 years at Citicorp. Notably, he served over five years as the managing director of Citicorp’s vendor finance business.
- Industry Leadership: Beyond his corporate roles, Cracchiolo is a respected industry leader. He served as the former chairman of the board of directors of the Equipment Leasing and Finance Association (ELFA), contributing to the industry’s growth and development.
In a statement, Tony Cracchiolo reflected on the significance of equipment finance: “Equipment finance plays a fundamental role in powering the productivity of businesses across the globe. It’s been my pleasure to play a small role in the industry’s development over the past several decades and see it become an essential financing tool for successful organizations.”
As Cracchiolo prepares to step down, U.S. Bank will conduct a search for a new leader to continue the legacy he helped build.
