Wells Fargo Selects New Jersey for New Regional Commercial Banking Office
Nation's only Aaa-rated bank attracts seasoned banking team
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 million. "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 2002. 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 Service.
SOURCE Wells Fargo & Company
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