She “accepted a new position outside the company” and her last day is tomorrow?
Someone read between the lines for me on this one, please.
32 replies (most recent on top)
Good for her. Leaving on her own terms and not “retiring”. She followed the company line and tried, but enough is enough. Go where risk management is respected.
The MC objective is to launder as much money to their Indian buddies as possible (and take their 5% cut in foreign accounts).
The developer of the GCC is Embassy Office Parks REIT and in 2023 Blackston sold it's ~$1B stake in the development ("Blackstone sold its entire remaining 23.5% stake (roughly 22.36 crore units) in Embassy Office Parks REIT via open-market block deals for approximately ₹7,100 crore ($850+ million").
https://www.moneycontrol.com/news/business/markets/blackstone-exits-embassy-reit-sells-23-5-stake-for-rs-7100-crore-11935471.html
GK and DV's international CRE money laundering scheme is falling apart so the CRO is exiting. Also explains why they're rolling through COOs. Speculation, of course.
@by there. She left because Gunjan isaking everyone here miserable and the entire environment is becoming toxic. Gunjan has flat out said she doesn't care about the employees, only about making money. And for some reason she is obsessed with people being in office, even people who were hired as remote and live in states with no hub. We have lost great, long-time employees who are winning awards just because they are re mote. It's seriously hurting the internal ability to even perform.
@at And AMEX is also recruiting for AML/BSA talent in NC. They're no dummies.
Why would she be put pushed out? She helps hide things anyway for them.
@a2 I doubt they would ever admit it was due to disagreement. Sometimes in her town halls you could tell she despises the woman
Not to worry. The victims around here will have someone new to talk cr-p about in no time. Wouldn’t it be cool if we could just wish her well and not be so dramatic? Stay toxic (shaking my head)
For have you will. . . Buh bye!!!! If you know you know.
Listen, the talented are leaving……..take notice. Gunjen is establishing her parachute…follow the breadcrumbs
This is entirely speculative on my part, so please don't take anything as fact. I think there's something brewing in the AML/EFCC program, as the year prior we lose Tyler Reynolds to Truist who was our BSA officer, and now the CRO and VC in Jodi. Gunjan was looking to cut staff aggressively across the board, but I know she had been particularly aggressive with EFCC since they apparently have the highest percentage of remote employees. What probably doesn't jive is that GK is looking to cut staff there exactly when a possibly big regulatory exam in 2027 is coming up (as banks have to be compliant with the updates made to AMLA 2020 by next year) and the consent order handed down to BofA was a shot across the bow to the industry as a whole....that SAR factories and checklist style compliance won't be accepted anymore. A lot of how USB's AML program is designed is very similar to BofA naturally, as a good portion of the management has ties to BofA and they're a big 4 bank...so if there are problems there, finCEN is likely to find problems at USB, too. I'm sure AML programs across the industry are scrambling to make sure they're not next. So, GK moving forward with aggressive layoffs/cutting of staff (especially in EFCC) when that's when staff should be retained the most is...possibly a reason Jodi decided to leave now? Just completely speculative. In an all hands, Jodi also alluded to the hub city model for EFCC being limited to 4 cities: minneapolis, cincy, charlotte, and Chandler. There's a huge hub in Columbus where a lot of the AML investigations teams are, so I also wonder what was/is going on with that.
@at I agree. It was a perfect scenario: JR gets to leave on her terms with a new job lined up and GK gets rid of her years ahead of time.
@af Thanks for the useful and factual post.
My take is Amex was just hit with huge fines for AML/BSA noncompliance. USB is known for strong risk management. She was likely poached to try to fix their issues.
From one dump to the next. AMEX is also being overrun by Welch/McKinsey-esque outsourcing as well. Same sh-t, different symbol.
Look at the SEC8K she clearly gave notice on the 23rd which was immediate, good for her!
With a jump like that to move to New York, and be part of Amex, I would be leaving too!!
Yikes. I've been fortunate to be able to meet several of the MC members & she was the only one I actually liked or thought was a human being under there on the inside. Ymmv because I know people in her org had challenges. Just my own personal perspective but hey good for her.
She's going to Amex https://www.americanexpress.com/en-us/newsroom/articles/company-statements/new-chief-risk-officer.html
MORE LIKE PUSHED OUT!!!
I'm sure GK already has a successor from McKinsey ready to step in and make this place even more miserable
She definitely left arguing with GK for it to be abrupt
I read an article that she resined effective immediately on 10/23. They just lie.
A Vice Chair leaving like that she was terminated and they are covering thier tracks
What a tremendous f’you to the CEO, scramble scramble scramble while you reap what you’ve sown!
One trend I've noticed in all emails related to executives departing is the use of the word 'bittersweet.' Tell us anything!
The thing is, managing committees of large corporations have to have succession in place. It’s like high-profile politicians leaving. The death of Terry left the board scrambling. This tells me it wasn’t planned. Something went down behind the scenes. If there wasn’t a rift with GK, there is now.
TLDR, I think she made about $10 million last year, and is leaving over $3 million on the table by leaving. That was suppose to keep her at USB. To quote Dave Chapelle, "Women know women, and they don't like them". Everyone in this bank knows what GK leadership is..., you don't take conversations with other institutions while leave $3mil on the table unless something is not going well.
CLO about it pop? 2008 crisis again?
Few possibilities here, being as rational as possible:
- This was some behind the scenes political move. Aka, she was asked to leave and given grace to find something.
- She’s going to a big enough competitor that we couldn’t afford to allow her systems and info access any longer.
- She chose the timeline.
@a1 I doubt was a cat fight. She sold a bunch of shares earlier this year probably in prep for leaving
U.S. Bancorp's SEC filing released this morning, October 29, 2026.
The SEC filing confirms that Jodi Richard is leaving to accept a position at another publicly traded company. It does not identify the company.
It also reveals that:
- Her resignation was formally effective October 23, 2026.
- U.S. Bancorp says the departure was not due to a disagreement with the company.
- Troy Remington, currently Chief Credit Officer, will serve as interim Chief Risk Officer.
- The bank is conducting a search for her permanent successor.