Wells Fargo Announces Commercial Banking Structure

Business introduces regional model; brings more industry expertise to
local markets

SAN FRANCISCO–(BUSINESS WIRE)–Continuing to strengthen and simplify how it serves commercial
customers, Wells
Fargo & Company
(NYSE: WFC) announced today the 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.

As previously announced, Wells 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.”

Wells Fargo Commercial Banking provides products and services, including
credit and treasury solutions, to customers with annual sales typically
ranging from $5 million to $2 billion. With its newly formed national
Specialized Industries group, Wells Fargo also provides expertise across
industries including Food, Beverage & Agribusiness, Investor Real
Estate, Government and Technology throughout its regional presence.
Organized under a simplified and consistent leadership structure, the
business operates in three regions across the U.S.: East, Central, and
West. Each region has division and market leadership structure dedicated
to providing local service and decision making.

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, Calif., 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, 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.

For more information on Wells Fargo Commercial Banking, please visit wellsfargo.com/commercialbanking.

About Commercial Banking

Wells Fargo Commercial Banking delivers a comprehensive suite of
products and industry expertise to serve the diverse financial needs of
companies with annual sales typically ranging from $5 million to $2
billion. As a leader in serving commercial customers, Wells Fargo offers
financial services, including credit and treasury management solutions,
as well as specialized expertise across industries including Technology,
Food, Beverage & Agribusiness, Investor Real Estate, Government, and
Small Business Administration Lending. With more than 6,000 team members
across 24 divisions and 80 markets nationwide, Commercial Banking
provides customers with local service and decision making.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,700
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 33 countries and territories to
support customers who conduct business in the global economy. With
approximately 262,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at Wells
Fargo Stories


Kathryn Ellis, 415-824-0254

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