U.S. Bank is beefing up its middle-market banking team, adding 60 roles across the country, including presences in Florida, Texas and California.
The new personnel, including relationship managers and business development executives, will support companies with between $50 million to $1 billion in annual revenue. The spree marks the “most significant hiring initiative” the bank has ever made in the middle-market space, a spokesperson told Banking Dive.
Middle-market growth is “a top priority for the bank,” said Hassan Salem, head of middle market for the U.S. Bank Institutional Client Group, according to a press release Thursday.
“We’re adding experienced bankers across the country to deepen our support for clients and communities and increase market share, particularly in markets where U.S. Bank already has a strong presence,” he said.
Florida and Texas are of note, however, as the bank has no branch presence in those states, according to the spokesperson.
The U.S. Bank spokesperson did not disclose a dollar amount for the lender’s middle-market investment. But the move comes as middle-market business leaders eye growth. Some 71% of finance chiefs surveyed by U.S. Bank this year have a positive outlook on their business’ financial prospects over the next three years. That’s up from 64% in the spring.
Middle-market executives surveyed by KeyBank in August rated their company's financial outlook as excellent or very good. KeyBank also bolstered its middle-market team this year, adding a five-person team in Atlanta in March following launches in Chicago, Southern California, and the Kansas City area.
U.S. Bank endeavors to cultivate a national business banking footprint, and CEO Gunjan Kedia said last month that she’s eyeing small-business segment growth in 2027.
“Being close to clients matters, but proximity alone isn’t enough,” Salem said on middle-market efforts. “Our opportunity is to pair strong local relationships with the full strength of U.S. Bank. That means understanding where our clients want to go, bringing them the right expertise, and executing for them every day.”
