Wells Fargo Names Perry Pelos to Oversee Commercial, Corporate & Treasury Management

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo (NYSE:WFC) today announced that Perry Pelos, executive vice
president and group head of the company’s Commercial
business, will take on an expanded leadership role
overseeing the Commercial Banking, Corporate
Banking, and Treasury Management
lines of business. He will remain based in San Francisco. Kyle Hranicky,
the head of Corporate Banking, and Danny Peltz, the head of Treasury
Management, will remain in those roles and report to Pelos. The company
will fill Pelos’ previous Commercial Banking leadership role in the
coming weeks. In addition, Phil Smith, head of Government and Institutional
Banking, will continue to have a dual reporting relationship to Pelos
and Jon Weiss, head of Wells Fargo Securities.

“There is tremendous connectivity among Commercial
Banking, Corporate Banking, and Treasury Management,” said Tim Sloan,
head of Wholesale Banking. “We felt this was a great opportunity to tap
into Perry’s extensive experience and success in growing our Commercial
Banking business to provide guidance for all three lines of business.”

Pelos joined Wells Fargo in 1987 in the company’s Commercial Banking
training program. He had several roles in commercial and corporate
banking, culminating with his heading the Corporate Banking Division in
1998. In 2000, he was named division manager for the Commercial Banking
Central division. Pelos assumed the role of group head of the Commercial
Banking Group in 2010 and helped grow the business to be the largest middle-market
lender in the country.

Pelos received his B.A. in economics from Northwestern University and
his M.B.A. in finance and accounting from Northwestern University’s J.L.
Kellogg Graduate School of Management.

“I’m very excited to take on this new role,” said Pelos. “All three
lines of business are already performing extremely well. My role will be
to ensure we continue to provide outstanding value to our customers, and
look for ways to deepen those relationships.”

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified,
community-based financial services company with $1.7 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through 8,700 locations, 12,800 ATMs, the internet (wellsfargo.com)
and mobile banking, and has offices in 36 countries to support customers
who conduct business in the global economy. With approximately 266,000
team members, Wells Fargo serves one in three households in the United
States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015
rankings of America’s largest corporations. Wells Fargo’s vision is to
satisfy all our customers’ financial needs and help them succeed
financially. Wells Fargo perspectives are also available at Wells
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