Wells Fargo appointed Laura Oberst to succeed Hugh Long as head of its Business Banking Group (BBG), effective immediately. Long will retire at year end. Business Banking serves more than 100,000 U.S. businesses with annual sales from $5 million to $20 million.

Based in Minneapolis, Oberst has led the North Region of Wells Fargo Middle Market Banking since 2014. In her new BBG role, Oberst will oversee 4,700 Business Banking team members at 450 locations in 39 U.S. states. Long will work closely with Oberst in the coming months to ensure a smooth transition.

A 32-year Wells Fargo veteran, Oberst began her career as a management trainee and became a retail branch manager in 1985 for the former Norwest. She then held leadership roles of progressing responsibility in Community Banking and Commercial Banking. In Middle Market Banking, she oversaw more than 350 team members in 10 states, from the Dakotas to Ohio.

“Laura is an extraordinary leader,” said Pelos. “Her ability to put customers and team members at the center of all she does has contributed to her success at each step of her career. She will take Business Banking to the next stage, providing even more businesses with our continuum of care and preparing them for the next phase of their growth.”

Oberst has also been instrumental in mentoring and developing diverse Wells Fargo leaders. In 2009, she helped launch Wells Fargo’s Women in Wholesale Group, which now boasts 2,000 team members and has increased female leadership in Wells Fargo commercial banking businesses.