The FINANCIAL — Wells Fargo’s Middle Market Banking group announced on April 23 that it has opened a regional office here, rounding out the bank’s New England expansion.
The bank has tapped 28-year banking veteran Deborah (Deb) Larsen to lead commercial lending operations in Central and Western Massachusetts.
The new commercial office marks Wells Fargo’s fifth in New England. The bank first launched the New England division in 2015 under the leadership of Boston-based Gregory O’Brien. Since then, the company has opened offices in Providence, Rhode Island; Portland, Maine; Manchester, New Hampshire; and now, Worcester.
Middle-market companies drive the U.S. economy as an important engine of job creation. More than 200,000 companies — mostly privately held — generate more than $10 trillion in annual revenues, according to Wells Fargo.
“Our mid-market commercial operations model is to have local representation backed by specialized resources, whether that’s industry expertise or specific financial capabilities that our bank can provide,” said O’Brien, New England division manager for Wells Fargo Middle Marking Banking. “We partner with those resources, wherever they may be located, to deliver comprehensive financial services and solutions to our customers.”
Larsen now leads Wells Fargo’s local middle market banking business, which provides credit, treasury management, and deposit products and services to middle-market companies with revenues of $20 million and more, from Worcester and North Worcester County to Springfield, Massachusetts. Reporting to Larsen is Ben Leonard, senior relationship manager, based in Springfield.
“Deb is an experienced commercial banker in this region and brings her passion for serving middle-market companies’ financial needs to our expanding Wells Fargo team in New England,” said O’Brien. “She will lead this growing market with integrity, diligence, and commitment to serving our clients and community.”
Larsen began her banking career in 1990 with First National Bank of Boston (predecessor to Fleet Bank and later Bank of America), managing credit and deposit portfolios for middle-market companies. After nearly 20 years with Bank of America, she joined UniBank for Savings, where she served as a senior lender in commercial and business banking in Worcester.
A graduate of Worcester’s Assumption College, Larsen holds a bachelor’s degree in business administration and an MBA. An advocate for diversity in the workplace, she has been a guest lecturer in Assumption College’s “Diversity in the Work Force” course. Excerpts from her graduate research project “Women in Leadership Positions” were published in three editions of “Understanding and Managing Diversity: Readings, Cases and Exercises” (C.P. Harvey and M.J. Allard, Pearson: Prentice Hall).”