Daily News: June 5, 2019

Wells Fargo Unveils New Commercial Banking Structure


Wells Fargo revealed its new leadership team and regional structure for its Commercial Banking business, led by Kyle Hranicky, a 25-year company veteran.

With this new structure, Wells Fargo Commercial Banking has more than 6,000 team members across 24 divisions and 80 markets nationwide providing industry expertise, customized solutions and local service to support the diverse financial needs of customers.

Fargo combined its Business Banking, Government & Institutional Banking and Middle Market Banking businesses to establish an integrated Commercial Banking business focused on operating more efficiently, reducing risk and better serving customers.

“In looking for ways to invest in and strengthen our business, we decided to bring together these market-leading businesses because it was an opportunity to further improve how we serve our customers,” said Perry Pelos, head of Wells Fargo Wholesale Banking. “By establishing Commercial Banking, we are building on our strengths, investing in our capabilities and creating an integrated business that best serves the evolving needs of our customers.”

“Our focus on building long-term relationships has not changed, and customers will continue to receive the same level of service and commitment they have come to expect from Wells Fargo,” said Hranicky. “With our new integrated business model and regional structure, we’re strengthening our core capabilities – providing local service and industry expertise. Our market leadership affirms that we have the best team in the industry, and we’re excited to continue to help our commercial customers grow and be successful.”

Under the new Commercial Banking organization, the following leaders report to Hranicky:

East Region is led by Kristin Lesher, a 20-year industry veteran. Based in Washington, D.C., Lesher oversees Commercial Banking operations across six divisions in 19 states — including Alabama, Connecticut, Delaware, Florida, Georgia, Kentucky, Maine, Massachusetts, Maryland, Mississippi, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Tennessee and Virginia — as well as the District of Columbia and Eastern Canada. Previously Lesher was co-head of Investment Banking Coverage, part of Corporate and Investment Banking.

Central Region is led by Laura Oberst, a 35-year industry veteran. Based in Minneapolis, Oberst oversees Commercial Banking operations across six divisions spanning 20 states – Arkansas, Colorado, Iowa, Illinois, Indiana, Kansas, Louisiana, Michigan, Minnesota, Missouri, Montana, North Dakota, Nebraska, New Mexico, Ohio, Oklahoma, South Dakota, Texas, Wisconsin and Wyoming. Previously Oberst was head of Wells Fargo’s Business Banking Group.

West Region is led by John P. Manning, a 34-year industry veteran. Based in Irvine, CA, Manning oversees Commercial Banking operations across five divisions in nine states — including Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah and Washington as well as Western Canada. Previously Manning was head of Wells Fargo Middle Market Banking, East Region.

Chief Operating Office is led by David Pope, a 35-year industry veteran. Based in Charlotte, NC, Pope is responsible for leading strategic initiatives including market implementation, business initiative support, regional services and partner relationships. Previously Pope was chief operating officer for Wells Fargo’s Business Banking Group.

Specialized Industries is led by Phil Smith, a 30-year industry veteran. Based in Charlotte, N.C., Smith oversees operations to deliver industry expertise and specialized capabilities across 48 states and Canada. Previously Smith was head of Wells Fargo’s Government and Institutional Banking Group.