U.S. Bank announced that Kai Sakstrup has been named chief product officer for its Wealth, Corporate, Commercial and Institutional Banking (WCIB) division. Beginning October 1, 2023 Sakstrup will lead a cross-functional team in developing and creating new products across the WCIB organization to better serve wealth and institutional clients, commercial businesses and corporations. He also will be responsible for creating the strategy and roadmap for a wide variety of WCIB products and the infrastructure needed to support them.

Sakstrup previously served as chief strategy officer for U.S. Bank for more than six years and as acting chief marketing officer since last summer. He joined U.S. Bank in 2015 as senior vice president of corporate strategy. Prior to joining U.S. Bank, Sakstrup worked at Ameriprise Financial for seven years, at Kelton as chief financial officer and chief operating officer, and at Bain & Company as a consultant.

He has a bachelor?s degree in Business Administration from the University of Wisconsin-Madison and an MBA from Northwestern University. He is based in Minneapolis.