Wells Fargo Names Derek Ellington Head of Small Business Banking

SAN FRANCISCO, July 22, 2021–(Business WIRE)–Wells Fargo & Enterprise (NYSE: WFC) declared nowadays that Derek Ellington will be part of the company on Oct 18 as the head of Smaller Business Banking. He will report to Client & Small Company Banking CEO Mary Mack.

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Derek Ellington (Photograph: Wells Fargo)

Ellington joins Wells Fargo from Lender of The united states exactly where his 24-calendar year vocation spanned quite a few roles in retail banking, professional banking, credit, and compact business banking. Most recently, Derek was the Business Banking Location Government for the Atlantic South Region. Derek also served as the President of the North Carolina Triad area in which he was liable for connecting the banking and expense methods supplied by way of the bank’s eight traces of small business to people today, households and companies across the location.

As the head of Small Enterprise Banking, Ellington will be accountable for driving development and encouraging compact company consumers realize success economically. Ellington and the Modest Company team of nearly 2,000 dedicated gurus are concentrated on making certain small companies recover from the pandemic and are set up for prolonged-expression achievement.

“We’re thrilled to have Derek be a part of us as the new head of Small Company Banking,” stated Mack. “Around the previous 12 months and a 50 %, we have sharpened our aim on serving the most fragile smaller businesses via the pandemic and into financial recovery, and Derek’s working experience and leadership will serve us perfectly as we keep on to elevate our guidance of little organizations.”

Ellington is a graduate of Troy College and holds a Masters of Arts from Birmingham Southern Faculty. He is a repeated speaker on compact business enterprise subjects and acquired the Lender of The usa World wide Diversity and Inclusion Award in 2017.

About Wells Fargo

Wells Fargo & Business (NYSE: WFC) is a main money solutions business that has about $1.9 trillion in property, proudly serves one in three U.S. homes and far more than 10% of little companies in the U.S., and is the top middle current market banking service provider in the U.S. We offer a diversified established of banking, expenditure and home finance loan merchandise and expert services, as very well as buyer and commercial finance, by our four reportable working segments: Customer Banking and Lending, Commercial Banking, Company and Expense Banking, and Wealth & Financial investment Management. Wells Fargo rated No. 37 on Fortune’s 2021 rankings of America’s most significant organizations. In the communities we provide, the company focuses its social effect on setting up a sustainable, inclusive long run for all by supporting housing affordability, tiny company progress, economic overall health, and a very low-carbon financial system. Information, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information could be uncovered at www.wellsfargo.com | Twitter: @WellsFargo.

Cautionary Statement about Forward-On the lookout Statements

This information release has ahead-searching statements about our foreseeable future monetary overall performance and organization. Because forward-looking statements are centered on our present expectations and assumptions with regards to the long term, they are subject to inherent risks and uncertainties. Do not unduly count on ahead-searching statements as precise effects could differ materially from anticipations. Ahead-seeking statements speak only as of the date made, and we do not undertake to update them to reflect variations or functions that manifest immediately after that date. For facts about elements that could bring about true success to differ materially from our expectations, refer to our studies filed with the Securities and Exchange Fee, including the “Forward-Hunting Statements” discussion in Wells Fargo’s most current Quarterly Report on Type 10-Q as effectively as to Wells Fargo’s other studies filed with the Securities and Exchange Fee, together with the dialogue beneath “Possibility Things” in our Annual Report on Kind 10-K for the calendar year ended December 31, 2018, accessible on its internet site at www.sec.gov.

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Allison Vail, 704-770-8374
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