Wells Fargo Restructures Commercial Banking Biz with Hranicky as Lead
JUN 5, 2019 - 6:45 am
Wells Fargo launched a new structure and leadership team for its Commercial Banking business, which will be 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.
To create the new configuration, 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 will also provide expertise across multiple industries – including food, beverage and agribusiness, investor real estate, government and technology – throughout its regional presence.
Organized under a simplified and consistent leadership structure, the business will operate 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.
Under the new organization, the following leaders will report to Hranicky:
Kristin Lesher, a 20-year industry veteran who will based in Washington, D.C. and lead the East Region, Lesher was previously co-head of Investment Banking Coverage, part of Corporate and Investment Banking.
Laura Oberst, a 35-year industry veteran who will be based in Minneapolis and lead the Central Region. Previously Oberst was head of Wells Fargo’s Business Banking Group.
John P. Manning, a 34-year industry veteran who will be based in Irvine, CA and lead the West Region. Previously Manning was head of Wells Fargo Middle Market Banking, East Region.
David Pope, a 35-year industry veteran who be based in Charlotte, NC and lead the chief operating office. Pope previously served as chief operating officer for Wells Fargo’s Business Banking Group.
Phil Smith, a 30-year industry veteran who will also be based in Charlotte and oversee Specialized Industries. Previously Smith was head of Wells Fargo’s Government and Institutional Banking Group.
Up until I spotted the iceberg looming ahead, it had been a perfectly nice voyage. The CEO and I were both excited to launch a new product in a growing field. However, after my repeated requests to find more beta... read more
Head into your average city, and chances are you’ll see some sort of bike or car share program. Or check out a weekend flea market and look at the hundreds of CDs and DVDs that populate the sales tables as... read more