Wells Fargo Selects New Jersey for New Regional Commercial Banking Office

Nation's only Aaa-rated bank attracts seasoned banking team

Jan 11, 2006, 00:00 ET from Wells Fargo & Company

    SHORT HILLS, N.J., Jan. 11 /PRNewswire-FirstCall/ -- Wells Fargo & Company
 (NYSE:   WFC) has opened a new Regional Commercial Banking Office (RCBO) in New
 Jersey to serve the financial needs of middle market companies throughout the
 Tri-State region.  Joining seven other Wells Fargo businesses in the area, the
 New Jersey RCBO expands Wells Fargo's Commercial Banking network to 82 offices
 coast to coast. New Jersey financial services veteran MaryLou Barreiro will
 lead the new office as regional vice president, targeting middle market
 commercial companies with annual revenues between $10 million and $250
     "Wells Fargo has a rich history of connecting businesses with a wide range
 of financial services from business insurance to trade finance and beyond,"
 said Barreiro. "It's time that New Jersey businesses get to benefit from Wells
 Fargo's highly regarded relationship banking model. Opening this RCBO is a
 natural outgrowth of our commitment to satisfying all of our customers'
 financial needs and to the Tri-State region."
     Local middle market companies in all industries can now turn to Wells
 Fargo to provide credit, treasury management, investment management, online
 services and other customized financial solutions including the ability to
 deposit checks right from a business customer's desktop. Desktop Deposit(SM)
 is the first remote deposit product in the industry to be available over the
 internet through Wells Fargo's Commercial Electronic Office(R) portal, or CEO,
 without the need for third-party software.  With CEO as their portal, New
 Jersey businesses can have online access to extensive commercial and trade
 services, cash management and even international treasury services through the
 Wells Fargo HSBC Trade Bank, the only nationally chartered, U.S. bank
 exclusively devoted to international trade finance.
     Barreiro comes to Wells Fargo from PNC Bank's New Jersey Middle Market
 Group, after a fifteen-year tenure at Summit/Fleet. She earned a bachelor's
 degree in management with a minor in finance at Rutgers University, and is a
 graduate of the University of Virginia, Graduate School of Banking.  She was
 also named one of New Jersey Business magazine's 25 Women of Influence in
     Barreiro is building a team of seasoned senior regional directors
 including Gino Duran, John Ganning, Thomas Vigna, Susan Wright-Kail, and Gary
 Wessels, Regional Credit Executive -- each having approximately 15 years of
 experience in the market.   With the new office (51 John F. Kennedy Parkway,
 2nd floor, Short Hills), more than 700 Wells Fargo team members in New Jersey
 provide financial services through offices in 39 cities throughout the state.
 Wells Fargo businesses in New Jersey are: Acordia Insurance, Wells Fargo
 Business Credit, Wells Fargo Foothill, Wells Fargo Century, Wells Fargo
 Equipment Finance, Inc., Wells Fargo Home Mortgage and the Wells Fargo
 International Banking Group.  More than 2,000 Wells Fargo team members work in
 the Tri-State region.
     Wells Fargo & Company is a diversified financial services company with
 $453 billion in assets, providing banking, insurance, investments, mortgage
 and consumer finance to more than 23 million customers from more than 6,200
 stores and the internet (wellsfargo.com) across North America and elsewhere
 internationally. Wells Fargo Bank, N.A. is the only bank in the United States
 to receive the highest possible credit rating, "Aaa," from Moody's Investors

SOURCE Wells Fargo & Company