Wells Fargo, the San Francisco-based banking giant, has made changes to the structure of its commercial banking operations — meaning a variety of changes for its large presence in New Jersey.
On a structural level, the financial services company said it is uniting its Business Banking, Middle Market Banking and Government & Institutional Banking businesses as the Commercial Banking unit.
New Jersey’s commercial banking operations will now be part of the Metro New York/New Jersey Division, as part of the East Region. Kristin Lesher, based in Washington, D.C., will lead the region, while Lucia Gibbons will lead the division.
Gibbons had been head of business banking for the East region, from Maryland to Florida, while John Cole had led business banking for the Northeast region, from Delaware through New England to the north and Ohio to the west.
Cole will now serve as the division’s portfolio management executive for Metro New York/New Jersey, reporting to Gibbons.
Also reporting to Gibbons is Peter Dontas, who is now commercial banking market executive for New Jersey. He had led New Jersey Middle Market Banking, while Lou Gallo had led New Jersey Business Banking.
“Our New Jersey Commercial Banking team looks forward to assisting companies as they grow, succeed and create jobs that benefit the economy,” Dontas told ROI-NJ. “Our team is now better-positioned to provide long-term guidance to business owners and executives at all stages of their company’s evolution.”
Gallo has moved to the Hudson Valley/Bronx market as its commercial banking market executive.
The Commercial Banking unit will be led nationally by Kyle Hranicky, and include more than 6,000 employees across 24 divisions and 80 markets nationwide.
