WASHINGTON--(BUSINESS WIRE)--Continuing its rapid growth in the Northern Virginia, Washington, D.C., and Southern Maryland markets, Wells Fargo (NYSE: WFC) has announced the opening of its Capital East Regional Commercial Banking Office (RCBO) in Bethesda, Md. In addition, Wells Fargo has added significant resources to serve middle market customers in Northern Virginia, Washington metro area and Southern Maryland.
The Capital region of Wells Fargo Commercial Banking has been based in McLean, Va. for more than three decades. Keith Hoelzer, a 24-year financial services veteran, has been at the helm of the greater Washington region since January and has since grown his commercial and industrial lending team by 50 percent. Earlier this year, the Capital RCBO – which covers Washington, D.C., Prince George’s and Montgomery counties in Maryland, and Northern Virginia – split into two regional offices: Capital East and Capital West. Both offices have been operating out of the original Capital RCBO location in McLean, Va. The Capital East team of 20 has recently relocated to 7475 Wisconsin Ave. in Bethesda, Md.
Leading the Capital East RCBO is David Straut, regional vice president, a 30-year banking veteran with deep roots at Wells Fargo. Straut spent 17 years in Charlotte, N.C., in corporate banking with Wells Fargo predecessors Wachovia Corporation and First Union National Bank before relocating to Washington in 2011 to oversee the Wells Fargo Commercial Banking team in Washington, and Southern Maryland. To keep pace with new business in the region, Straut has recruited 10 team members since January 2013, including five relationship managers, a portfolio manager, a Treasury Services manager and, most recently, loan team manager Tim Avendt from M&T Bank.
Ruth Ann Clark, named to lead the Capital West RCBO team earlier this year, has added eight team members. Clark has more than 25 years of experience in corporate and commercial banking. She has been with Wells Fargo since 2010. Clark’s new recruits include three relationship managers, a business development officer, a portfolio manager, and a Corporate Treasury Services manager. Her team remains based in McLean, Va., and covers the Northern Virginia market.
Kristin Lesher, managing director in the Wells Fargo Securities Middle Market Investment Banking and Capital Markets group, will partner with the Capital East and Capital West teams to provide commercial, corporate, and institutional customers with investment banking and capital markets services, in addition to commercial banking. Prior to her current role, Lesher served as a senior member of the Wells Fargo Corporate Treasury group, Corporate Development, and in the Mergers and Acquisitions group. Formerly based in Charlotte, N.C., she will move with the team to the new Bethesda location.
“The growth we’ve seen in the Capital region is tremendous, and we’ve grown our team to meet the demands of the commercial banking customers throughout the greater Washington region,” said Hoelzer. “Wells Fargo offers a depth and breadth of products and services to meet our commercial customers’ banking needs, and we’re excited to more fully represent this fantastic region.”
About Wells Fargo Commercial Banking
Wells Fargo Commercial Banking serves middle market businesses with annual sales above $20 million. Nationwide, Wells Fargo is the No. 1 commercial bank in the markets it serves. In addition to providing a world-class customer experience for our clients, Wells Fargo Commercial Bankers are also committed to being good citizens, from charitable giving to volunteering to public service.
About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital markets products and services, including public debt and equity origination and distribution, interest rate, commodity and equity risk hedging, mergers and acquisitions advice, prime services, structured lending facilities and municipal bond origination. The institutional capital markets business is comprised of more than 4,000 team members in 40+ offices across the U.S., Europe and Asia.
Wells Fargo Securities is the trade name for certain capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC, member NYSE, FINRA, NFA and SIPC, Wells Fargo Institutional Securities, LLC, member FINRA and SIPC, Wells Fargo Prime Services, LLC, member FINRA, NFA and SIPC, Wells Fargo Bank, National Association, Wells Fargo Securities International Limited (authorized by the U.K. FSA), Wells Fargo Securities Asia Limited (licensed by the HK SFC), and Wells Fargo Securities (Japan) Co., Ltd. (registered with the KLFB).
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 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 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.