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Dec 24, 2014

Wells Fargo Commercial Banking Primes for Eastern Expansion

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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.


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