New York City to serve as eastern hub
December 24, 2014- NEW YORK–(BUSINESS WIRE)–Wells Fargo (NYSE:WFC), No. 1 in lead banking relationships with middle-market companies, said today that New York City will serve as its new Eastern Region hub for Commercial Banking. John P. Manning, a 26-year financial services veteran and Wells Fargo executive vice president, will lead the continued expansion of the company’s Commercial Banking business in the Eastern U.S. and Eastern Canada. He is based at Wells Fargo’s Manhattan office, 150 East 42nd St.
Manning succeeds Carlos Evans, a longtime Wells Fargo Commercial Banking leader in Charlotte, North Carolina, who retired last May. Manning most recently led Wells Fargo’s 14-office Commercial Banking division in Southern California. Before that, he oversaw the Greater Los Angeles division. His teams doubled their loan portfolio between 2009 and 2014.
In the last few years, Wells Fargo Commercial Banking has grown rapidly in the East, with new operations in Maryland, Boston, and Toronto, among others. Manning’s new Eastern territory includes 23 Regional Commercial Banking Offices in 13 states, plus the District of Columbia and Eastern Canada. Wells Fargo has identified more Eastern urban and suburban markets for possible Commercial Banking expansion, including New York boroughs and New England communities where middle-market businesses cluster.
“As middle-market companies are feeling more confident about the economy, they’re seeking opportunities to invest in their operations, their people, and their communities,” Manning said. “Wells Fargo’s top priority throughout this region is putting resources on the ground. That means local teams, local decisions, and local lending authority where our customers live and work.”
A native of New Jersey, Manning earned his bachelor’s degree in finance from Rutgers University. He joined Wells Fargo’s Commercial Banking group in 1994 as a relationship manager in Los Angeles. He progressed through the organization and was promoted to head of the Greater Los Angeles division in 2009. Commercial Banking unified its Southern California offices into one region in 2013 with Manning at the helm.
Wells Fargo in New York
On March 18, 1852, Wells, Fargo & Company was founded in New York. Today, approximately 5,300 Wells Fargo team members work in New York at 83 Community Banking stores, 78 Wells Fargo Advisors offices, 28 Home Mortgage locations, and four Commercial Banking offices. In 2013, Wells Fargo awarded $11.1 million to New York nonprofits and schools through corporate and foundation giving.
About Wells Fargo Commercial Banking
With more than 140 offices in 38 states and three Canadian provinces, 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 day-to-day operations and growth. Expertise and services are available to specialty industries, including 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.
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.6 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 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.
