U.S. Bancorp has hired John Steward as president of its retail payments solutions division.

Steward will replace the division's current president, Tony Vuoto, who previously announced that he would retire at the end of the first quarter of 2016. In his new role, Steward will help to lead the $422 billion-asset bank's efforts in offering credit, debit and prepaid payment services to consumers and small businesses.

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