New Wells Fargo Commercial Hub Pulls Together Services for Businesses in Tri-State Area
Basking Ridge, New Jersey — April 26, 2007
Wells Fargo & Company (NYSE:WFC) has expanded its presence in the Tri-State area, bringing together several commercial specialties under one roof. Joining the Wells Fargo Regional Commercial Banking Office at the company's new hub in Basking Ridge are Wells Fargo Insurance Services, Wells Fargo Equipment Finance, Wealth Management Group, Wells Fargo International Services, Middle Market Real Estate, and Institutional Brokerage and Sales. Tracing its roots in New Jersey to 1888, Wells Fargo now employs nearly 4,300 team members in the Tri-State area. "Keeping pace with New Jersey's vibrant business community, Wells Fargo has had explosive growth in the marketplace, primarily due to our focusing on a relationship-oriented model versus a transactional one - which simply means we take a long-term approach to growing our business," said MaryLou Barreiro, regional market president for the New Jersey RCBO. "Our strategy here is to be as entrepreneurial as possible, fueling the generation of ideas and added value for our clients." A grand opening for the Basking Ridge offices will be held Wednesday, May 2, from 4 p.m. to 8 p.m. at 120 Mountain View Blvd., Suite 200. Attendees will include clients, prospective customers, regional accounting and law firms, and other various vendors. Speaking at the grand opening will be Iris Chan, group head of Wells Fargo Commercial Banking, and Andy Anderson, Wells Fargo chief historian. A replica Wells Fargo stagecoach will be on display. The New Jersey RCBO, which targets middle market companies with annual revenues between $10 million and $500 million, is part of an expanding network of Wells Fargo Commercial Banking that now totals 88 offices coast to coast. Wells Fargo RCBO clients in the Tri-State area represent a wide range of industries, including consumer products, food and beverage, industrial equipment, transportation, chemicals, and metals. Wells Fargo's Commercial Banking Group is the No. 1 financial services provider to middle market businesses in the western United States, according to a leading independent research firm. Among its leading edge solutions are managing cash global accounts payable while optimizing cash flows, managing the cost of employee benefits through Health Savings Accounts, and financing new information technology and telecommunications equipment while securely managing the disposal of outdated equipment. 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."