Wells Fargo Promotes Friesth to Central Division Manager for Middle Market Banking
March 14 2017 - 11:57AM
Business Wire
Thirty-year company veteran to lead commercial
banking operations across four states
Wells Fargo (NYSE:WFC) announced today that veteran commercial
banker Grant Friesth will head the Central Division for Middle
Market Banking, effective immediately. Friesth, who previously led
Middle Market Banking in Iowa, now also manages Nebraska, North
Dakota, and South Dakota operations.
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Wells Fargo Promotes Grant Friesth to
Central Division Manager for Middle Market Banking (Photo: Business
Wire)
As senior vice president and division leader, Friesth brings
nearly 30 years of banking experience to the role, leading more
than 30 team members in four states who primarily serve privately
held, family-owned businesses with annual revenues of greater than
$20 million. Companies of this size – referred to as “middle
market” by the company – are a driving force in the Central U.S.
and the nation’s economy, reporting an average revenue growth of
6.9 percent in the fourth quarter of 2016 and a strong year of
overall growth, according to the National Center for the Middle
Market.
“Grant will build on the hundreds of existing strong
relationships within the division’s vibrant middle market by adding
new customers, especially putting Wells Fargo’s food and
agribusiness expertise to work,” said MaryLou Barreiro, Mountain
Midwest Region head for Wells Fargo Middle Market Banking. “Grant
has made a habit of leading dynamic teams that exceed customer
expectations. He has a knack for developing innovative strategies
for winning new customers and helping existing customers reach
their financial goals.”
Based in Des Moines, Friesth started his career in 1989 with
Norwest Bank in Minneapolis. Most recently as regional vice
president for Middle Market Banking in Iowa, Friesth led statewide
teams to double-digit loan commitment, new customer, and
profitability growth. Previously, he served as a business
development officer for Wells Fargo Business Credit, Middle Market
Banking relationship manager, loan team lead, and Commercial
Banking team lead.
Grant earned his bachelor’s degree in finance from the
University of Iowa and his MBA from the University of Arizona. A
native of Iowa, Friesth serves on the Iowa Events Center Hotel and
Greater Des Moines Partnership Regional Economic Development
boards. He also previously served on the YMCA’s Riverfront board,
the West Des Moines Soccer Board, and with the Central Presbyterian
Deacons.
Wells Fargo serves its customers and strengthens the local
communities across the division through philanthropy and
volunteerism. In 2015, the finance services company contributed
$5.27 million to nearly 1,036 nonprofits and schools. An additional
$1.93 million was donated to Iowa, Nebraska, North Dakota, and
South Dakota schools through Wells Fargo’s team member matching
gift program. Wells Fargo team members contributed $6.6 million
through an annual Community Support and United Way Campaign and
volunteered more than 204,500 hours.
About Wells Fargo Middle Market Banking
Wells Fargo is No. 1 in total middle market banking share in the
U.S. and has the most primary banking relationships with middle
market companies with $25 million to $500 million in annual sales.*
With 140 offices in 38 states and four Canadian provinces, Wells
Fargo Middle Market Banking provides local service and
decision-making for businesses with $20 million to $500
million-plus in annual sales. Asset-based lending, traditional
secured loans, and capital markets provide access to working
capital for day-to-day operations and growth. Expertise and
services are available to specialty industries, including
technology, food and agribusiness, healthcare, government, higher
education, clean technology, and environmental services. Watch
stories about successful middle market companies at
http://wholesalebanking.wf.com/cmbg-success-stories.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 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 8,600 locations,
13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and
has offices in 42 countries and territories to support customers
who conduct business in the global economy. With approximately
269,000 team members, Wells Fargo serves one in three households in
the United States. Wells Fargo & Company was ranked No. 27 on
Fortune’s 2016 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy our customers’ financial needs and
help them succeed financially. News, insights, and perspectives
from Wells Fargo are also available at Wells Fargo Stories.
* Barlow Research Middle Market Rolling 8 Quarter Data
4Q2014-3Q2016, showing Wells Fargo's competitive market performance
among companies with $25MM-<$500MM in sales for both primary
bank market share and total market share (primary + up to 3
additional banks used).
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MediaWells Fargo & CompanyTrina Shepherd,
312-339-0012Latrina.shepherd@wellsfargo.com@trinashepherdWF
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