A significant change in leadership at U.S. Bank’s Working Capital Finance division has been announced, with Dan Son stepping into the role previously held by Sam Philbrick. Philbrick, a long-standing figure in the banking sector, is retiring after an impressive 45-year career that included 18 years at U.S. Bank. During his tenure, he played a pivotal role in expanding the bank's asset-based finance business into one of the leading national franchises. In his new position, Son will oversee the development and delivery of working capital solutions tailored to client needs, encompassing various established product verticals such as Asset-Based Finance, Supply Chain Finance & Receivables, and Trade Services.
As Dan Son assumes his new responsibilities, he brings extensive experience and expertise to the table. Having joined U.S. Bank in 2019, Son most recently led sales and origination efforts within the Working Capital Finance division. His previous role involved heading the global banking division of the bank, where he demonstrated a knack for addressing supply chain challenges through innovative financing strategies during the pandemic. This background positions him well to meet the evolving demands of clients requiring flexible and interconnected working capital solutions.
Prior to joining U.S. Bank, Son had an illustrious career spanning transaction banking roles across seven countries. He also held leadership positions in global financial institutions, global payments, and trade finance at Wells Fargo, including nearly a decade based in Hong Kong. Such international exposure equips him with a broad perspective on delivering strategic solutions for clients navigating diverse external environments.
Under Son’s leadership, the Working Capital Finance division aims to leverage the full capabilities of the bank to provide clients with comprehensive, adaptable solutions. These offerings are designed to optimize cash flow and enhance operational efficiency for businesses across various industries. The division's focus on asset-based financing, supply chain optimization, and trade services underscores its commitment to supporting both midsize firms and larger enterprises through all phases of their business cycles.
With Dan Son at the helm, U.S. Bank’s Working Capital Finance division is poised to continue its tradition of excellence. By integrating the bank’s extensive resources and tailoring solutions to meet unique client needs, Son intends to ensure that each company receives personalized support. This approach aligns with the bank’s broader mission to empower businesses to thrive amidst changing market dynamics and economic conditions, reinforcing its status as a trusted partner in the financial landscape.