Chair of the Board of Directors
Tim Welsh is Vice Chair, Consumer and Business Banking (CBB) at U.S. Bank–the fifth-largest bank in the country. In this role, he works with colleagues to achieve their collective purpose, which is to power the potential of consumers and businesses. Collectively the CBB group includes consumer products, branches, small businesses, mortgages, auto, and many elements of digital. CBB accounts for nearly half of U.S. Bank’s loans and deposits.
Previously, Tim was a Senior Partner at McKinsey & Company, based in Minneapolis. In his nearly 27 years at McKinsey, he served clients throughout the financial services and consumer industries. In particular, he served some of the nation’s leading insurers, banks, investment firms, consumer packaged goods, retailers, and health care companies. Within McKinsey, he played several leadership roles. He was one of 30 elected Senior Partners who serve on the McKinsey’s Shareholders Council (i.e., the Firm’s Board of Directors), and led the global Learning and Development area. Tim served for six years on the global Senior Partner Committee that evaluates other Senior Partners. In addition, he served as a co-leader of McKinsey’s global strategy/corporate finance practice, co-leader of the North American Life Insurance and Wealth Management practice, leader of the Midwest Financial Services practice, and Managing Partner of the Minneapolis office.
Tim also cares passionately about helping the Minneapolis-St. Paul community thrive. He is one of the founders of the Itasca Project, which has received detailed coverage in the NY Times, McKinsey Quarterly and Tom Friedman’s book “Thank You for Being Late.” He serves on the Boards of many non-profit organizations in the community and nationally.