As U.S. Bancorp's vice chair and chief administrative officer, Kate Quinn is leading a $573 billion-asset company that, she said, is focused on "meeting customers where they are and how they want to do business."
Quinn joined the bank in 2013 and was appointed to the chief administrative role in 2017. She oversees corporate strategy, marketing, analytics, ESG, communications, government relations, social media monitoring, corporate real estate and digital capabilities and growth.
In September 2021, U.S. Bank announced it had agreed to acquire MUFG Union Bank for $8 billion. Quinn was one of the leaders who worked on the deal, which was expected to close in the second half of 2022 but has been delayed because of regulatory scrutiny. The bank said it now expects the deal to close by the fourth quarter of this year.
In anticipation of the merger, Quinn was instrumental in the creation of a $100 billion, five-year community benefit plan. The ambitious plan will increase access to capital and provide mortgage lending for low and moderate income communities and people of color.
Under her leadership, the bank has been leveraging data and analytics to drive revenue. Quinn's 2,000-member team developed a pricing tool and predictive analytics that delivered more than $6 million in revenue in 2021. Additionally, her team developed a data-driven marketing campaign strategy that will roll out over the next five years; it's expected to deliver more than $100 million in revenue.
Quinn is proud of another one of her team's new products: Asistente Inteligente, a Spanish-language version of the bank's mobile app. According to Quinn, U.S. Bank is the first financial institution in the U.S. to offer this to their Spanish-speaking customers.
Quinn says her teams has honed a range of capabilities. "We're always working to stay a step ahead to be agile and creative with our digital solutions," she said. "I'm also proud of our culture, our core values and how we make decisions through those lenses."
Leadership is at a critical juncture in the financial services industry, she said. It is all about "letting go of constructs that no longer work." She is dedicated to driving innovations that help her bank keep pace with its nonbanking competition. "In short, we need to adapt, evolve and transform ourselves to stay relevant. The combination of human and digital is really powerful, so we need to ensure we create those connections," she said.
Diversity and inclusion are equally important to Quinn. She's executive sponsor of the bank's women's business resource group, and mentors young women within the bank and within her community. "The further I go in my career, the more I appreciate that 'empowered women empower women,' " she said. "I'm a champion for all women and girls and an avid supporter of their growth and development. I feel that it is critical for young women, early in their careers, to see a path forward and to get mentorship and sponsorship from leaders who 'get them.' "
Outside of work, Quinn serves on several corporate and nonprofit boards. She's been on the United Way U.S.A.'s national board of trustees since 2013. She also serves on the board of Rite Aid as the chair of the compensation committee, and is a member of the nominating and governance committee. She's also a board member for Ontrak, an artificial intelligence and technology health care company, and Fraser, a Minnesota nonprofit that provides autism and early-childhood mental health services.
