Wells Fargo Names Rich Kerbis Chief Credit Officer for Commercial Banking

Wells Fargo (NYSE:WFC) announced today that it has named Rich Kerbis to the role of Chief Credit Officer for Commercial Banking. Kerbis will be responsible for all credit and risk management functions for the core commercial banking business and will report to Perry Pelos, head of Wells Fargo Commercial Banking.

Rich Kerbis (Photo: Business Wire)

"This new position will improve on an already strong credit culture and better position Wells Fargo to appropriately manage risk while ensuring availability of credit to mid-sized companies across the country,” said Pelos. "Rich’s strong experience leading commercial lending teams makes him well-qualified to lead this important credit operation for our company.”

"I look forward to working with the outstanding credit professionals on our team and our loan officers nationwide to enhance our already world-class credit process and ensure that Wells Fargo Commercial Banking expands its position as the number 1 provider of capital to mid-sized companies in the U.S.” said Kerbis.

A 20-year financial services industry veteran, Kerbis earned a bachelor’s degree in business from the University of Buffalo and a master’s degree in business administration from the J. L. Kellogg Graduate School of Management at Northwestern University. For the past 11 years, Kerbis has led Wells Fargo’s expansion of its Commercial Banking business into the Midwest and Northeast regions of the United States. He will relocate from Chicago to San Francisco to assume his new role.

Wells Fargo’s Commercial Bank serves middle market businesses and is the No. 1 commercial bank in the markets it serves in the U.S. In addition to providing a world-class customer experience for our clients, Wells Fargo commercial bankers also are committed to being good citizens, from charitable giving to volunteering, to public service.

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

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