U.S. Bank Manifest Funding Services Launches
Dedicated Commercial Vehicle Division

MARSHALL, MINNESOTA, April 2, 2007 – U.S. Bancorp (NYSE:USB) announced that Richard Mitchell will develop Manifest Funding Services’ Commercial Vehicle Division.

The past success of the commercial vehicle portfolio has been the catalyst for Manifest Funding Services to expand its specialization and dedication into this market. Competitive and custom financing is available for new and used commercial vehicles including, but not limited to: ambulances, light to heavy duty trucks, and limousines, towing and recovery vehicles. In addition, Manifest Funding Services has put together a specialized team to assist the Commercial Vehicle Division.

Richard Mitchell has joined the organization as the National Sales Manager - Commercial Vehicles, and brings 25 years of experience in the commercial vehicle industry. For the past eight years, he has been on the finance side of the industry. Prior to that, Mitchell focused on dealership fleet sales as well as managing an independent leasing company. Mitchell has established many relationships with vehicle lease brokers/lessors and vehicle dealers throughout the United States. He will continue to develop broker/lessor relationships and assist customers with growing their commercial vehicle business.

Richard commented, “I have been very fortunate to participate in the industry from three distinct areas: dealer fleet sales, independent leasing company management, and as a commercial vehicle finance specialist. This experience has been a tremendous help in developing strong and successful business relationships. It will be rewarding to see this portfolio grow and to assist our customers with their commercial vehicle business.”

"Mitchell has proven results. His impressive track record makes him the right person to help move the company and our customers forward,” said Curt Kovash, General Manager for Manifest Funding Services. Kovash continues, “In addition, Richard will work closely with our dedicated Commercial Vehicle Action Team and with Shelly Tauer, our Director of Operations who is aligned to this segment. This strong combination of sales and service personnel which are dedicated to this division will greatly assist our customers in developing finance programs that meet their needs and the needs of their customers."

Mitchell attended University of Texas, Austin with a focus on accounting. He has been a member of the National Vehicle Leasing Association since 1986. Mitchell will be very active in industry and association events as he develops this division for Manifest Funding Services.

U.S. Bancorp (NYSE:USB), with $219 billion in assets, is the 6th largest financial holding company in the United States. The company provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.

Contact:
Monica Bruegl
U.S. Bank
651-225-1559

Read More EAEL Member News...