Wells Fargo Securities Appoints Veteran Banker Michael Buttner Managing Director of Bank Strategies Group

Buttner to lead group providing portfolio management support to clients in the banking sector

CHARLOTTE - August 11, 2011

Wells Fargo Securities, part of Wells Fargo & Company (NYSE: WFC), today announced that Michael Buttner has been appointed managing director of its Bank Strategies group. In his new role, Buttner leads a team that provides portfolio management support to clients of all sizes in the financial services sector. Based in Charlotte, Buttner reports to Rich Gordon, managing director of Fixed Income Market and Portfolio Strategy.

“We feel very fortunate to have Mike leading the Bank Strategies group,” said Rich Gordon, managing director of Fixed Income Market and Portfolio Strategy at Wells Fargo. “With his deep, diverse expertise across the fixed income spectrum, he is the ideal person to lead and grow this group. Prior to this promotion, the Bank Strategies group had been focused mainly on providing portfolio management support to community banks. Mike’s extensive experience managing large bank portfolios will enable us to expand our offering to mid-size and large financial institutions while continuing to serve community banks across the country.”

Under Buttner’s leadership, the Bank Strategies group will help banks of all sizes maximize resource utilization and return on investment. Using a wide range of tools, the group will produce customized analysis that will allow clients to measure risk and simulate portfolio performance in various interest-rate and macroeconomic environments. Buttner’s group will also provide clients with exclusive strategic advice and commentary in the form of a monthly newsletter and other publications.

Buttner has spent nearly 21 years in a variety of senior fixed income roles at Wells Fargo and Wachovia. Most recently, he was the head of Residential Mortgage-Backed Securities for Wells Fargo Securities, where he helped build its mortgage trading and distribution business. Prior to that, he was responsible for managing the hedging activities of Wells Fargo Home Mortgage Company’s servicing rights and pipeline/warehouse assets. In 2007 and 2008, he served as Chief Executive Officer of Wachovia Bank International, a Dublin-based subsidiary of Wachovia Bank. Prior to that assignment, he was the Head of Portfolio Management for Wachovia Corporation. Before joining Wachovia, he held a variety of leadership roles in accounting at Salomon Brothers, Contitrade Services Corp., and the Foreign Exchange and Money Market Division of Continental Grain Co. Buttner received his B.A. and M.B.A in accounting from Fordham University in New York.

For more information on the Bank Strategies group at Wells Fargo Securities, or to view the monthly newsletter, please contact Mike Buttner at michael.buttner@wellsfargo.com.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 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 wachovia.com), and other distribution channels across North America and internationally. With approximately 275,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 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 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 FINRA and SIPC, and Wells Fargo Bank, National Association.

Shelley Beason