Wells Fargo Hands Reins for Commercial Banking to John C. Adams
September 01 2015 - 7:59AM
Business Wire
‘Business as usual’ for nation’s No. 1 lender
to middle market companies
Wells Fargo & Company (NYSE:WFC), the nation’s largest
lender to middle market companies, said today that John C. Adams
has been named head of Commercial Banking, effective immediately.
He is based in San Francisco.
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John Craig Adams, head of Wells Fargo
Commercial Banking (Photo: Business Wire)
Adams reports to Perry Pelos, the former Commercial Banking
head, who in July was promoted to a new position that oversees
Corporate Banking, Commercial Banking, Government and Institutional
Banking and Treasury Management, which are part of the company’s
Wholesale Banking group.
Adams is a member of the company’s Management Committee and a
30-year Wells Fargo veteran of commercial and corporate banking.
Last year – after nearly two decades of increasing responsibility
in Northern California, the Pacific Northwest, and western Canada –
he was given charge of Wells Fargo’s biggest Commercial Banking
division: 44 regional offices with 600-plus team members in the
West. He has also grown the Silicon Valley-based Technology Banking
Division to nine cities nationwide, including Seattle, Los Angeles,
Boston, and Austin.
In his new role, Adams will oversee more than 140 Wells Fargo
Regional Commercial Banking Offices in 38 states and three Canadian
provinces, serving middle market companies with annual revenues of
greater than $20 million in a broad spectrum of industries,
including manufacturing, wholesale, retail, distribution,
construction, clean-tech and services.
“John’s steady rise over three decades epitomizes our Wells
Fargo leadership story,” said Pelos, noting that his Commercial
Banking management team averages 20 years of service. “It’s
business as usual for our customers.”
Adams began in banking career in 1985 with First Interstate Bank
of California. He earned a bachelor’s in economics and business
administration from California State University-Chico, an MBA from
Golden Gate University, and graduated from Pacific Coast Banking
School. He studied management and leadership development at the
Stanford Graduate School of Business and Harvard Business School.
Adams is Silicon Valley Leadership Group secretary-treasurer. He
also serves on the board of the Bay Area Council Economic Institute
and the Chief’s Cabinet of the San Mateo Police Activities
League.
About Wells Fargo Commercial Banking
Wells Fargo Commercial Banking provides local service and
decision-making for businesses with annual revenues of greater than
$20 million. Asset-based lending, traditional secured loans, and
capital markets provide access to working capital for customers’
day-to-day operations and growth. Expertise and services are
available to specialty industries, including life sciences,
technology, food and agribusiness, healthcare, government, higher
education, clean technology, and environmental services. Wells
Fargo has the highest market share of middle-market company
relationships in the U.S., according to the 2013 TNS Commercial
Banking Momentum Monitor. Winner of the 2015 TNS Choice Awards,
Wells Fargo is the No. 1 preferred bank by companies in the U.S.
with annual sales of $50 million to $2 billion.
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a nationwide,
diversified, community-based financial services company with $1.7
trillion in assets. Founded in 1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance, investments,
mortgage, and consumer and commercial finance through 8,700
locations, 12,800 ATMs, the internet (wellsfargo.com) and mobile
banking, and has offices in 36 countries to support customers who
conduct business in the global economy. With approximately 266,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 30 on
Fortune’s 2015 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and
help them succeed financially. Wells Fargo perspectives are
also available at Wells Fargo Blogs and Wells Fargo Stories.
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version on businesswire.com: http://www.businesswire.com/news/home/20150901005633/en/
Wells Fargo & CompanyGabriel Boehmer,
503-784-5319gabriel.h.boehmer@wellsfargo.com@GabeBoehmerWF
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