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U.S. Bank Hires El-Yafi to Lead New Global Transaction Services Group

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U.S. Bank has established a new Global Transaction Services group, appointing Tarek El-Yafi as its head to enhance international banking and payment solutions. El-Yafi brings over 25 years of experience from Standard Chartered Bank and Citi, with expertise in transaction banking, payments, foreign exchange, treasury management, and trade services across the U.S., UK, Asia, Africa, and Middle East.

The new group will collaborate with various bank segments to commercialize international capabilities, focusing on helping U.S.-based clients manage cross-border payment costs across more than 60 currencies and 100 countries. The initiative builds on U.S. Bank's growing global presence, which includes doubled FX hedging business, European fund administration services, and Elavon's payment processing operations in 36+ countries.

U.S. Bank ha istituito un nuovo gruppo di Global Transaction Services, nominando Tarek El-Yafi come suo responsabile per migliorare le soluzioni bancarie internazionali e di pagamento. El-Yafi vanta oltre 25 anni di esperienza in Standard Chartered Bank e Citi, con competenze in banking transazionale, pagamenti, cambio valuta, gestione della tesoreria e servizi commerciali in Stati Uniti, Regno Unito, Asia, Africa e Medio Oriente.

Il nuovo gruppo collaborerà con diversi segmenti bancari per commercializzare le capacità internazionali, concentrandosi sull'aiutare i clienti statunitensi a gestire i costi dei pagamenti transfrontalieri in oltre 60 valute e 100 paesi. L'iniziativa si basa sulla crescente presenza globale di U.S. Bank, che include il raddoppio del business di copertura FX, servizi di amministrazione di fondi in Europa e operazioni di elaborazione dei pagamenti di Elavon in oltre 36 paesi.

U.S. Bank ha establecido un nuevo grupo de Global Transaction Services, nombrando a Tarek El-Yafi como su líder para mejorar las soluciones bancarias y de pagos internacionales. El-Yafi aporta más de 25 años de experiencia de Standard Chartered Bank y Citi, con experiencia en banca transaccional, pagos, cambio de divisas, gestión de tesorería y servicios comerciales en EE. UU., Reino Unido, Asia, África y Medio Oriente.

El nuevo grupo colaborará con varios segmentos del banco para comercializar capacidades internacionales, centrándose en ayudar a los clientes de EE. UU. a gestionar los costos de los pagos transfronterizos en más de 60 monedas y 100 países. La iniciativa se basa en la creciente presencia global de U.S. Bank, que incluye un negocio de cobertura de divisas duplicado, servicios de administración de fondos en Europa y operaciones de procesamiento de pagos de Elavon en más de 36 países.

U.S. Bank는 국제 은행 및 결제 솔루션을 개선하기 위해 Global Transaction Services라는 새로운 그룹을 설립하고 타렉 엘-야피를 책임자로 임명했습니다. 엘-야피는 스탠다드 차타드 은행과 시티은행에서 25년 이상의 경험을 쌓았으며, 거래 은행 업무, 결제, 외환, 재무 관리 및 무역 서비스에 대한 전문성을 보유하고 있습니다. 그의 경력은 미국, 영국, 아시아, 아프리카 및 중동에 걸쳐 있습니다.

새로운 그룹은 여러 은행 부문과 협력하여 국제 역량을 상업화하는 데 집중하며, 미국에 본사를 둔 고객이 60개 이상의 통화와 100개국에서 국경 간 결제 비용을 관리하도록 돕는 것을 목표로 합니다. 이 이니셔티브는 U.S. Bank의 글로벌 존재가 증가하고 있는 상황에서 이루어지며, 여기에 FX 헤징 비즈니스의 두 배 성장, 유럽의 펀드 관리 서비스, 그리고 엘라본의 36개국 이상에서의 결제 처리 운영이 포함됩니다.

U.S. Bank a créé un nouveau groupe de Global Transaction Services, nommant Tarek El-Yafi à sa tête pour améliorer les solutions bancaires et de paiement internationales. El-Yafi apporte plus de 25 ans d'expérience de Standard Chartered Bank et Citi, avec une expertise en banque de transactions, paiements, change, gestion de trésorerie et services commerciaux à travers les États-Unis, le Royaume-Uni, l'Asie, l'Afrique et le Moyen-Orient.

Le nouveau groupe collaborera avec divers segments bancaires pour commercialiser des capacités internationales, se concentrant sur l'aide aux clients basés aux États-Unis dans la gestion des coûts des paiements transfrontaliers dans plus de 60 devises et 100 pays. L'initiative s'inscrit dans le cadre de la présence mondiale croissante de U.S. Bank, qui comprend un doublage de son activité de couverture FX, des services d'administration de fonds en Europe et les opérations de traitement des paiements d'Elavon dans plus de 36 pays.

U.S. Bank hat eine neue Gruppe für Global Transaction Services gegründet und Tarek El-Yafi zu ihrem Leiter ernannt, um internationale Bank- und Zahlungslösungen zu verbessern. El-Yafi bringt über 25 Jahre Erfahrung von der Standard Chartered Bank und Citi mit, mit Fachkenntnissen in Transaktionsbanking, Zahlungen, Devisen, Treasury-Management und Handelsdienstleistungen in den USA, dem Vereinigten Königreich, Asien, Afrika und dem Nahen Osten.

Die neue Gruppe wird mit verschiedenen Bankbereichen zusammenarbeiten, um internationale Fähigkeiten zu vermarkten, und sich darauf konzentrieren, US-Kunden dabei zu helfen, die Kosten für grenzüberschreitende Zahlungen in mehr als 60 Währungen und 100 Ländern zu verwalten. Diese Initiative baut auf der wachsenden globalen Präsenz von U.S. Bank auf, die ein verdoppeltes FX-Hedging-Geschäft, europäische Fondverwaltungsdienste und die Zahlungsabwicklungsoperationen von Elavon in über 36 Ländern umfasst.

Positive
  • Creation of new Global Transaction Services group to expand international banking capabilities
  • Appointment of experienced executive with 25+ years in global banking
  • FX hedging business has doubled in recent years
  • Extensive global reach across 60+ currencies and 100+ countries
Negative
  • None.

Accomplished global financial services executive will drive efforts to create an interconnected, focused approach to serving clients’ international banking and payment needs

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bank has named international banking leader Tarek El-Yafi as head of U.S. Bank Global Transaction Services, a new group created to help meet the growing international banking and payment needs of clients.

El-Yafi joins U.S. Bank after more than 25 years at Standard Chartered Bank and Citi. El-Yafi has deep experience in the U.S., UK and Asia, Africa and the Middle East with transaction banking, payments, foreign exchange (FX), treasury management and trade services.

“We’ve built strong global banking and payment solutions that many firms utilize to operate more efficiently across the world. Global Transaction Services will interconnect our expertise from across the bank to meet the growing international financial services needs of U.S. businesses,” said U.S. Bancorp President Gunjan Kedia. “Tarek is an accomplished leader with a strong track record of delivering innovative global money movement solutions.”

The Global Transaction Services team will work in close partnership with bankers covering all segments, as well as existing businesses across U.S. Bank – including Global Treasury Management, Working Capital Finance, Foreign Exchange, Elavon and others – in commercializing their international capabilities. A key area of focus will be U.S.-based clients’ efforts to control cross-border payment costs via more efficient conversion to more than 60 currencies reaching more than 100 countries. Global Transaction Services will also help optimize clients’ use of cross-border trade working capital solutions, foreign deposit accounts, interest rate risk management products and payment acceptance solutions.

With the launch of Global Transaction Services, U.S. Bank is building on its growing global banking and payments presence. In addition to facilitating cross-border payments for a wide-range of clients, U.S. Bank in recent years has doubled the size of its FX hedging business. The bank has a growing fund administration service in Europe and is also one of the leading European trustee and agency providers, helping financial institutions and corporations manage overseas trust assets and navigate European debt and loan markets. The bank’s payment acceptance and processing subsidiary, Elavon, serves businesses in more than 36 countries and 100 currencies.

“U.S. Bank has very deep relationships with the nation’s leading companies. With Global Transaction Services, we’ll work together to help them operate more efficiently around the globe by optimizing areas like cross-border payments, foreign deposit accounts and broader working capital solutions,” said El-Yafi.

About U.S. Bank

U.S. Bancorp, with more than 70,000 employees and $678 billion in assets as of December 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

Todd Deutsch, U.S. Bank Public Affairs and Communications

todd.deutsch@usbank.com

Source: U.S. Bancorp

FAQ

What is U.S. Bank's new Global Transaction Services group and who will lead it?

U.S. Bank's new Global Transaction Services group will be led by Tarek El-Yafi, focusing on international banking and payment solutions. The group aims to provide interconnected global financial services for U.S. businesses.

How many currencies and countries does U.S. Bank's Global Transaction Services cover?

U.S. Bank's Global Transaction Services covers more than 60 currencies and reaches more than 100 countries for cross-border payment solutions.

What experience does Tarek El-Yafi bring to U.S. Bank's Global Transaction Services?

Tarek El-Yafi brings over 25 years of experience from Standard Chartered Bank and Citi, with expertise in transaction banking, payments, foreign exchange, treasury management, and trade services across multiple global regions.

How has U.S. Bank's foreign exchange hedging business performed recently?

According to the announcement, U.S. Bank has doubled the size of its foreign exchange hedging business in recent years.

What international services does U.S. Bank's Elavon subsidiary provide?

Elavon, U.S. Bank's payment acceptance and processing subsidiary, serves businesses in more than 36 countries and supports 100 currencies.

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