Banking veteran returns to company to lead Merchant Payment Services

Wally Mlynarski has been named CEO of Elavon, a wholly owned subsidiary of U.S. Bank, delivering secure, scalable payments solutions and dedicated support to businesses across the United States, Europe and Canada.

Mlynarski most recently led merchant services and receivables at Bank of America. He previously spent seven years with U.S. Bank supporting Elavon, where he held leadership roles including chief product officer. In his new role, Mlynarski will report to Mark Runkel, vice chair and head of Payments: Merchants and Institutional at U.S. Bank.

"Wally's extensive industry expertise will play a critical role in our continued growth as we deliver scalable, tech-led and embedded payments innovation for businesses of all sizes," said Runkel. "His visionary leadership — combined with his deep understanding of our business — positions Elavon to continue helping customers solve their most complex payment challenges."

Mlynarski holds a bachelor's degree in computer engineering from the Georgia Institute of Technology in Atlanta. He is active in the Electronic Transactions Association (ETA), American Transaction Processors Coalition (ATPC) and the Metro Atlanta Chamber of Commerce. Mlynarski also volunteers with local youth sports teams in lacrosse and softball, and Atlanta based City of Refuge, an organization that supports battered women and victims of human trafficking.

He lives in metro Atlanta with his wife, Jessica, and their two daughters.

"I am honored to return to Elavon and help advance its position as a leading provider of premier payment experiences for our clients," Mlynarski said. "Elavon's commitment to delivering innovative solutions in a rapidly evolving environment empowers businesses to grow, support their customers and deliver superior service through advanced payments technology."

Mlynarski succeeds Jamie Walker, who is transitioning to lead U.S. Bank's newly created digital assets and money management organization after serving as Elavon CEO since 2017.

Elavon is a global payments leader, processing more than $576 billion in transactions worldwide annually. Backed by U.S. Bank, the fifth-largest commercial bank in the United States, Elavon offers a broad range of technologies and scalable payment solutions to businesses of all sizes. Elavon is the trusted payments partner for eight of the top 10 global airlines and seven of the top 10 largest U.S. hotel brands.

About Elavon

Elavon is wholly owned by U.S. Bank (NYSE:USB), the fifth-largest bank in the United States, and provides end-to-end payment processing solutions and services to more than two million customers in the United States, Europe, and Canada. As the leading provider for airlines and a top five provider in hospitality, healthcare, retail, and public sector/education, Elavon's innovative payment solutions are designed to solve pain points for businesses from small to the largest global enterprises.

About U.S. Bancorp

Headquartered in Minneapolis, U.S. Bancorp is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. Our three major business lines serve 15 million clients throughout the U.S., Canada and Europe, and our team of nearly 70,000 people invest our hearts and minds to power human potential every day. Ranked 105th on the Fortune 500, we are deeply respected for our culture and long-term stewardship and admired for our diversified business mix and product capabilities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260318811265/en/

Media Contact:

John Friess

john.friess@usbank.com

720.2402.2869

Wally Mlynarski Named Elavon CEO