Daily News: December 11, 2013

Wells Fargo Expands Commercial Banking in Capital Region

Continuing its growth in the Northern Virginia, Washington, D.C. and Southern Maryland markets, Wells Fargo announced the opening of its Capital East Regional Commercial Banking Office (RCBO) in Bethesda, MD. In addition, Wells Fargo has added significant resources to serve middle-market customers in Northern Virginia, Washington metro area and Southern Maryland.

Leading the Capital East RCBO is David Straut, regional vice president, a 30-year banking veteran with deep roots at Wells Fargo. Straut spent 17 years in Charlotte, NC in corporate banking with Wells Fargo predecessors Wachovia Corporation and First Union National Bank before relocating to Washington in 2011 to oversee the Wells Fargo Commercial Banking team in Washington and Southern Maryland. To keep pace with new business in the region, Straut has recruited ten team members since January 2013, including five relationship managers, a portfolio manager, a Treasury Services manager and, most recently, loan team manager Tim Avendt from M&T Bank.

Ruth Ann Clark, named to lead the Capital West RCBO team earlier this year, has added eight team members. Clark has more than 25 years of experience in corporate and commercial banking. She has been with Wells Fargo since 2010. Clark’s new recruits include three relationship managers, a business development officer, a portfolio manager, and a Corporate Treasury Services manager. Her team remains based in McLean, VA, and covers the Northern Virginia market.

Kristin Lesher, managing director in the Wells Fargo Securities Middle Market Investment Banking and Capital Markets group, will partner with the Capital East and Capital West teams to provide commercial, corporate, and institutional customers with investment banking and capital markets services, in addition to commercial banking. Prior to her current role, Lesher served as a senior member of the Wells Fargo Corporate Treasury group, Corporate Development, and in the Mergers and Acquisitions group.

“The growth we’ve seen in the Capital region is tremendous, and we’ve grown our team to meet the demands of the commercial banking customers throughout the greater Washington region,” said Hoelzer. “Wells Fargo offers a depth and breadth of products and services to meet our commercial customers’ banking needs, and we’re excited to more fully represent this fantastic region.”