The country’s fifth-largest bank, U.S. Bank, is starting a commercial banking division in Florida which will headquartered in Orlando. The new division will cater to middle-market businesses with annual revenue of up to $500 million. The bank plans to offer clients services ranging from lending, deposits, payments, capital markets, derivatives and foreign exchange. The new arm will be headed by 30 year banking veteran Toby Peabody, who since 2011 has been Central Florida market president for BBVA Compass.
