Wells Fargo Hires Head of Currency Strategy
San Francisco — April 18, 2007
Wells Fargo & Company (NYSE:WFC) said today it has hired Nick Bennenbroek as Head of Currency Strategy for the Foreign Exchange division. Located in New York, he will analyze and interpret the foreign exchange markets for Wells Fargo's business clients. "Nick Bennenbroek brings a strong track record as a foreign exchange strategist to help Wells Fargo customers interpret the financial impact of operating in foreign markets," said Sara Wardell-Smith, Executive Vice President and Manager of Foreign Exchange Trading and Sales and International Treasury Management for Wells Fargo. "The foreign exchange market trades three trillion dollar per day. It is an essential component to the global economy and the companies who operate in it. Nick will help Wells Fargo provide them the financial expertise they need to compete overseas."
Most recently a senior currency strategist at Brown Brothers Harriman in New York, Bennenbroek's career is broad and expansive. Having begun as an analyst with the New Zealand Treasury, he spent a number of years at Bankers Trust and Deutsche Bank as an economist in New Zealand, London and New York. Bennenbroek received his Bachelor and Masters of Management Studies from the University of Waikato in Hamilton, New Zealand. Wells Fargo Foreign Exchange helps commercial companies, small businesses, correspondent banks, and individuals identify financial risks, establish hedging objectives, and evaluate appropriate strategies for risk reduction so that they can effectively compete in the global marketplace. Wells Fargo & Company is a diversified financial services company with $486 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."