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Wells Fargo Creates Dedicated Homebuilder Banking Group

Stocks in this article: WFC

Wells Fargo & Company (NYSE:WFC) today announced that it has formed a Homebuilder Banking team to serve the needs of its residential developer clients on the East Coast, Texas, and Midwest. The team is comprised of 14 bankers located across the country and will report to Bird Anderson. The team will also serve as a centralized resource on the industry for Wells Fargo’s entire Commercial Real Estate business. Wells Fargo’s existing homebuilder relationships in the West will continue to be served by their local coverage teams.

The Homebuilder Banking team will provide a comprehensive suite of financial solutions including project and corporate financing facilities, and a referral network to treasury management, insurance, mortgage and capital markets products. In addition to serving the financial needs of its existing customers, the new team will seek to identify and build relationships with additional high quality homebuilders throughout its coverage area.

“The homebuilder community has unique needs,” said Anderson. “We believe our customers will benefit by having a group of experienced and dedicated bankers devoted specifically to this industry,” said Anderson. “We’re starting to see some modest signs of increased demand in the homebuilding sector in many markets. Our dedicated banking team is ready to help satisfy our homebuilder clients’ financial needs as the market begins its recovery.”

Anderson, who will be based in Charlotte and report to Robin Michel, head of the Regional Private Markets Group of Commercial Real Estate, joined Wells Fargo in 1985, as part of the legacy Wachovia organization. He has more than 25 years of experience in the commercial real estate industry, with a particular focus on the homebuilder sector. Most recently, he managed homebuilder relationships in Wells Fargo’s former Special Situations Group. Anderson holds an M.B.A. with Beta Gamma Sigma honors from the Executive MBA Program at Georgia State University and an undergraduate degree in history and economics from Vanderbilt University.

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