‘Business as usual’ for nation’s No. 1 lender to middle market companies
SAN FRANCISCO--(BUSINESS WIRE)--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.
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.