The FINANCIAL — On July 22, Wells Fargo announced that Perry Pelos, executive vice president and group head of the company’s Commercial Banking business, will take on an expanded leadership role overseeing the Commercial Banking, Corporate Banking, and Treasury Management lines of business. He will remain based in San Francisco. Kyle Hranicky, the head of Corporate Banking, and Danny Peltz, the head of Treasury Management, will remain in those roles and report to Pelos. The company will fill Pelos’ previous Commercial Banking leadership role in the coming weeks. In addition, Phil Smith, head of Government and Institutional Banking, will continue to have a dual reporting relationship to Pelos and Jon Weiss, head of Wells Fargo Securities.
“There is tremendous connectivity among Commercial Banking, Corporate Banking, and Treasury Management,” said Tim Sloan, head of Wholesale Banking. “We felt this was a great opportunity to tap into Perry’s extensive experience and success in growing our Commercial Banking business to provide guidance for all three lines of business.”
Pelos joined Wells Fargo in 1987 in the company’s Commercial Banking training program. He had several roles in commercial and corporate banking, culminating with his heading the Corporate Banking Division in 1998. In 2000, he was named division manager for the Commercial Banking Central division. Pelos assumed the role of group head of the Commercial Banking Group in 2010 and helped grow the business to be the largest middle market lender in the country, according to Wells Fargo.
Pelos received his B.A. in economics from Northwestern University and his M.B.A. in finance and accounting from Northwestern University’s J.L. Kellogg Graduate School of Management.
“I’m very excited to take on this new role,” said Pelos. “All three lines of business are already performing extremely well. My role will be to ensure we continue to provide outstanding value to our customers, and look for ways to deepen those relationships.”