U.S. Bancorp announced that its board of directors elected Alan B. Colberg as a director of the company, effective immediately. He will serve on U.S. Bancorp's Audit and Public Responsibility Committees. Colberg, 61, served as Chief Executive Officer and as a member of the board of directors of Assurant Inc., from January 2015 until December 2021, and as its president from 2014 to May 2021, prior to his retirement from Assurant in January 2022.

Prior to those roles, he served as Assurant's Executive Vice President of Marketing and Business Development. Before joining Assurant in 2011, he spent more than 20 years at Bain & Company Inc., including leading its global financial services practice. Colberg is also a member of the Board of Directors of Corebridge Financial Inc., formerly AIG Life & Retirement.