Wells Fargo Expands Middle Market Banking in Southwest U.S.
April 20 2017 - 9:00AM
Business Wire
Neal Crapo, 25-year commercial banker, to lead
operations in three states
Wells Fargo (NYSE:WFC), the No. 1 lender to U.S. middle market
companies, announced today that it has established a new Southwest
Division of its Middle Market Banking business. The new division
will expand local, dedicated expertise for the bank’s Arizona,
Nevada, and New Mexico customers.
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Neal Crapo (Photo: Business Wire)
Selected to lead the new division is Neal Crapo, a senior vice
president and 25-year Wells Fargo commercial banker. In his new
role, Crapo oversees 40 Middle Market Banking professionals who
serve Southwest companies with more than $20 million in annual
revenue. Crapo has led the Wells Fargo Food & Agribusiness
Eastern Division since 2013. He will be based in Phoenix.
“The region’s diverse economy has been a key factor in Wells
Fargo’s steady growth among Southwest middle market companies,”
said MaryLou Barreiro, who leads the Mountain Midwest Region and
the National Food and Agribusiness Division leadership for Wells
Fargo Middle Market Banking. “The growing number of companies
relocating to and expanding in the region continues to drive job
growth and diversity, and the need for more complex financial
services solutions. The addition of Neal will help Wells Fargo
Middle Market Banking’s team reach more customers, including food
and agribusiness companies located in the Southwest.”
Crapo began his Wells Fargo career in 1992 as a summer intern in
the Fresno Regional Commercial Banking Office. After earning his
MBA at California State University, Fresno, he steadily rose
through the ranks, serving as a relationship manager and regional
manager. As Eastern Region leader of Food and Agribusiness, Crapo
grew his team of agribusiness bankers from four to nearly 30 in
just three years. During that time, his teams quadrupled loan
commitments, new customer relationships, and profitability.
“More focused leadership in the region increases the potential
to expand existing relationships and grow new ones,” said Crapo. In
his new role, Crapo supports a talented and long-standing regional
team, where the average tenure of team members is more than 10
years.
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
http://wholesalebanking.wf.com/cmbg-success-stories.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $2.0 trillion in
assets. Founded in 1852 and headquartered in San Francisco, Wells
Fargo provides banking, insurance, investments, mortgage, and
consumer and commercial finance through more than 8,500 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
273,000 team members, Wells Fargo serves one in three households in
the United States. Wells Fargo & Company was ranked No. 27 on
Fortune’s 2016 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy our customers’ financial needs and
help them succeed financially. News, insights and perspectives from
Wells Fargo are also available at Wells Fargo Stories.
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version on businesswire.com: http://www.businesswire.com/news/home/20170420005438/en/
Wells Fargo & CompanyMediaJeanette D. Foster,
415-396-0560Jeanette.D.Foster@wellsfargo.com@JFosterWF
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