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U.S. Bank names St. Louis market president

U.S. Bank announced Wednesday that Derek Martin has been named St. Louis market president, succeeding Larry Otto, who retired on March 19, 2021.

For 20 years, Martin has successfully managed a diverse portfolio of middle-market companies, ranging from manufacturing and retail to distribution and transportation. With this new role, he will lead the Commercial Banking group in the St. Louis market and direct U.S. Bank initiatives across the region.

“Derek has a long history of serving middle market clients and supporting their success,” said Regional Market President, Mike Prescott. “His client focus, depth of experience, and passion for developing talent will deliver tremendous value for our clients and employees in St. Louis.”

Derek sits on the boards of the St. Louis Municipal Theatre and the St. Louis Sports Commission. He is also a U.S. Soccer-licensed coach, currently volunteering at the St. Louis Scott Gallagher Soccer Club.

He has a Bachelor of Science degree in Finance from Seton Hall University and an MBA in Business and Finance from University of Missouri – St. Louis.

About U.S. Bank

U.S. Bancorp, with nearly 70,000 employees and $554 billion in assets as of December 31, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. It is based in Minneapolis.

Send items of business interest to Southwestern Illinois to Dennis Grubaugh, editor of the Illinois Business Journal, at

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