U.S. Bank official climbs ladder while staying put in Las Vegas

Kenneth Ladd is moving up the corporate ladder again at U.S. Bank, but he's not leaving Las Vegas or his office.

"I've been in the same office with the same telephone number with six banks," Ladd said.

The banks changed because of a series of mergers over the years, but Ladd has remained.

U.S. Bank announced Monday that it has promoted the 61-year-old Ladd to executive vice president and head of commercial banking. He was Western region commercial banking manager for U.S. Bank, but his job responsibilities have been divided among several other officers.

U.S. Bank is the key subsidiary of Minneapolis-based U.S. Bancorp, the fifth-largest bank holding company in the country with $291 billion in assets.

Ladd directs a staff of 715 bankers in 24 states serving 14,500 customers. His staff serves all the banking needs of companies with annual revenues of $20 million to $500 million. These are midsize companies, larger than small businesses but smaller than giant corporate clients.

He likes to quote U.S. Bancorp Chairman and CEO Richard Davis, who says the bank helps clients build dreams. Ladd said he is excited about the opportunities he has to excel in his new job and that he is undaunted by competitors.

"I'll take all comers," he said. "I like challenges."

U.S. Bank is ready to gain market share as the economy recovers, partly because it is emerging from the Great Recession in good shape.

"We are a company that did not have the problems others have had. We are extremely well-capitalized," Ladd said. "I have what I consider the opportunity of a lifetime for a banker to grow our market share."

Ladd, who meets business executives around the country, is optimistic the recession is ending.

"There appears to be an economic uplift," he said. "But I would also say it's fragile."

Ladd said he expects Nevada to recover more slowly than other areas of the country.

"Nevada's recovery is really centered around consumer confidence," he said. "As consumer confidence continues to build, the volume of tourists will return, the spending per visit will return and we will see a really strong recovery in Nevada."

Ladd, the son of an Air Force colonel, grew up in Europe and completed high school in the Philippines. He came to Las Vegas in 1983 when Bill Martin, now chief executive officer at Service1st Bank, hired him as vice president of Nevada National Bank. Security Pacific Bank purchased Nevada National. Bank of America acquired Security Pacific and sold some of the Security Pacific acquisition to U.S. Bank to satisfy federal antitrust concerns.

Ladd became Nevada state president for U.S. Bank.

He and his wife, Dee Ladd, love Las Vegas, he said. She is founder and CEO of the Sunrise Children's Foundation, a nonprofit group committed to children's health and education.

As a corporate leader with operations around the country, Ladd enjoys the convenience of catching flights from McCarran International Airport.

Contact reporter John G. Edwards at
jedwards@reviewjournal.com or 702-383-0420.