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Wells Fargo Promotes John Favret to Lead Middle Market Banking in Louisiana

11/14/2017
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28-year banking veteran brings expertise to growing commercial lending business

NEW ORLEANS – Wells Fargo Middle Market Banking announced today that it has promoted 28-year banking veteran John Favret to lead its New Orleans team as regional vice president. Favret succeeds Doug Kilton, who launched the office in 2011 and recently transitioned to a commercial banking leadership role in Houston.

Favret, who grew up in New Orleans, returns there to oversee a team of experienced commercial lending professionals who deliver Wells Fargo’s localized lending approach to privately held, middle-market companies with revenues of $20 million and higher. The bank’s Middle Market Banking office provides more than 80 Wholesale Banking services to clients in industries such as agriculture, manufacturing, wholesale, retail, distribution, and technology.

Wells Fargo’s growing New Orleans Middle Market Banking team has become a model of employee diversity. Nine of its 13-team members identify as diverse, comprising a representative cross-section of the community. Along with its strides in diversity, the team has grown loan commitments by millions and grown market share over the past six years.

“John will continue Doug’s great work and lead this dynamic team to even greater heights in years to come with integrity, diligence, and commitment to helping companies grow,” said Sam Belk, Mid-South Division manager for Wells Fargo Middle Market Banking.

Most recently, Favret served as Real Estate Advisory Division territory manager for the Southeast U.S., responsible for the Carolinas, Florida, Georgia, Mid-Atlantic, and Mid-South divisions. Favret began his banking career in 1989 at Southeast Bank, before it became First Union Bank, then Wachovia, and now Wells Fargo. Throughout his career, Favret held leadership positions in commercial banking, large corporate banking, underwriting, asset-based lending, and real estate. He earned a bachelor’s degree in accounting and finance from University of Florida.

More than 200 Wells Fargo employees live, work, and support a broad range of commercial, corporate, and individual customers in Louisiana. Besides Middle Market Banking, 16 Wells Fargo Advisors offices serve clients throughout the state. In 2016, employees volunteered more than 1,000 hours and donated $41,000 in local communities.

About Wells Fargo Middle Market Banking

Wells Fargo is No. 1 in total middle market banking share in the U.S. and has the most primary banking relationships with middle market companies with $25 million to $500 million in annual sales.* With 140 offices in 38 states and four Canadian provinces, Wells Fargo Middle Market Banking provides local service and decision-making for businesses with $20 million to $500 million-plus in annual sales. 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. Watch stories about successful middle market companies at Wells Fargo Commercial Banking Success Stories.

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, insurance, investments, mortgage, and consumer and commercial finance through more than 8,400 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

*Barlow Research Middle Market Rolling 8 Quarter Data 4Q2014-3Q2016, showing Wells Fargo's competitive market performance among companies with $25MM-<$500MM in sales for both primary bank market share and total market share (primary + up to 3 additional banks used). Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

 

 

LaTrina Blair Shepherd 312-630-2315 Latrina.Shepherd@wellsfargo.com http://www.twitter.com/TrinaShepherdWF

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