U.S. Bank Adds Industry Veterans to Payments Leadership Team

Peter Geronimo and Raj Gazula join the company's Payments: Merchant and Institutional division.

Feb. 4, 2026 at 7:31am

Got story updates? Submit your updates here. ›

U.S. Bank has named two new senior leaders to its Payments: Merchant and Institutional (PMI) team as the company continues to bolster and transform its Payments businesses. Peter Geronimo has joined to lead the new PMI Sales Distribution team, bringing 16 years of experience in treasury, payments and working capital. Raj Gazula has also joined to lead strategy and serve as the Chief Administrative Officer for PMI, with nearly 30 years of payments and strategy experience.

Why it matters

The appointments come as U.S. Bank has identified payments transformation as one of three strategic growth priorities over the past year, along with organic growth and expense management. The new leaders will help the bank deliver a more holistic approach to clients, combining relationship management and payments expertise.

The details

Geronimo most recently served as Managing Director and Head of North American Sales for Commercial Bank, Services at Citi, while Gazula led Wholesale Payments at Truist including treasury solutions, merchant acquiring and commercial cards. Both Geronimo and Gazula will report to Mark Runkel, vice chair and head of PMI at U.S. Bank.

  • U.S. Bank named the new leaders on February 4, 2026.

The players

Peter Geronimo

Joined U.S. Bank to lead the company's new PMI Sales Distribution team, bringing 16 years of experience in treasury, payments and working capital.

Raj Gazula

Joined U.S. Bank to lead strategy and serve as the Chief Administrative Officer for PMI, with nearly 30 years of payments and strategy experience.

Mark Runkel

Vice chair and head of PMI at U.S. Bank, to whom Geronimo and Gazula will report.

U.S. Bank

A major U.S. bank with approximately 70,000 employees and $692 billion in assets as of December 31, 2025.

Got photos? Submit your photos here. ›

What they’re saying

“I'm delighted to welcome Peter and Raj to the PMI team. U.S. Bank has deep experience, diverse global capabilities and longevity in payments. Peter and Raj are joining at an important time in our transformation journey. The work we've done over the past year has allowed us to reimagine how we harness our payments capabilities, simplify and streamline the client experience and more effectively meet our clients' needs now and as they grow.”

— Mark Runkel, Vice chair and head of PMI (Business Wire)

The takeaway

The addition of these industry veterans to U.S. Bank's Payments: Merchant and Institutional leadership team underscores the bank's focus on transforming its payments business to better serve clients through a more holistic approach combining relationship management and payments expertise.