Elliot Jaffee, a U.S. Bank executive vice president and Twin Cities Market president, is the new chair of the very large Minneapolis Downtown Council board of directors.

There are 50 board members for the council, which promotes downtown and produces the Holidazzle parade and the Minneapolis Aquatennial. Sam Grabarski is the organization’s president and CEO.

Jaffee will serve a two-year term as chair, succeeding Tim O’Connor of Hays Co.