Nation’s No. 1 affordable housing investor
expands housing, higher education practices
As part of its continued commitment to higher education and
housing industry clients, and efforts to diligently manage
operational risks, Wells Fargo Government & Institutional
Banking (GIB) today named four public finance veterans to key
management roles in Wells Fargo Securities (WFS), and one industry
expert to the leadership team of its commercial banking
practice.
New to the WFS Housing team:
Rebecca Reape, director. Based in New York, she will
cover state and local housing-finance agencies, and real estate
development clients. A 19-year affordable housing veteran, she
previously served as a Public Finance vice president at Bank of
America Merrill Lynch, helping to grow the firm’s housing practice
significantly. There, she provided investment banking services to
finance affordable housing for single and multifamily borrowers
through municipal bond offerings. Reape holds a bachelor’s in
business management from Bucknell University.
Matthew Engler, director. Based in Boston, this 15-year
affordable housing veteran will cover state and local
housing-finance agencies and real estate development clients. In
2015 and 2016, he served as a Barclays director, helping increase
the firm’s housing bond underwriting market share. Before that, he
was a senior vice president for City Securities Corporation and a
UBS Municipal Securities Group associate director. Engler holds an
MBA from the Yale School of Management, an M.A. from Tufts
University, and a bachelor’s from Bowdoin College.
“Wells Fargo is proud of our longstanding commitment and
presence in the mortgage markets, and we continue to expand our
housing practice,” said Nancy Feldman, interim head of Public
Finance. “As the nation’s largest investor in Low Income Housing
Tax Credits and the top lender in multifamily construction, we can
now serve the needs of single and multifamily clients even
better.”
Wells Fargo is the largest investor in affordable multifamily
housing in the U.S., according to the research by the accounting
firm Cohn Reznick. With increasing demand for affordable rental
options nationwide, Wells Fargo is helping to bridge the
affordability gap as the No. 1 LIHTC investor for affordable
multifamily housing in the U.S., with $9 billion in
investments over the last five years.
New to the WFS Education and Nonprofit Banking (ENB) team:
Harper Watters, managing director. Based in New York,
this 23-year higher education and public finance veteran is now
responsible for expanding ENB’s business with public and private
institutions. Most recently, he was associate vice president and
treasurer for Cornell University. He serves on the Treasury
Symposium Program Committee at the Treasury Institute for Higher
Education. Previously, Watters worked for Bank of America Merrill
Lynch and UBS Securities in higher education public finance groups.
He holds a master’s from Carnegie Mellon University. Watters begins
at Wells Fargo Securities on July 24.
Lawrence Stephens, director. Based in New York, this
19-year public finance veteran most recently served as a Public
Finance director for PNC Capital Markets’ New York Banking and
Higher Education groups. Before that, he served as a Public Finance
executive director for JP Morgan Securities. He holds a bachelor’s
in economics and finance from Lafayette College. Stephens began at
Wells Fargo Securities on June 19.
“With these hires, we’ve added 40-plus years of experience in
delivering public financing ideas and solutions for our clients,”
said Sally Bednar, co-head of Higher Education with Patrick
Russell. “We looked for senior bankers with higher education and
nonprofit expertise to expand our practice and found these
qualities in Harper and Lawrence.”
Donald G. Wenzel, Jr., a 25-year JP Morgan Chase
commercial banking veteran, is also joining GIB as executive vice
president and leader of Business Operations Risk. Splitting time
between Charlotte and Louisville, Kentucky, Wenzel will be part of
GIB’s first line of defense, helping to ensure operational
soundness in executing business processes for GIB segments. Over
his career, he has earned roles of increasing responsibility at JP
Morgan Chase, including Risk and Control for the Government,
Healthcare, and Higher Education; Commercial Banking Oversight
& Controls; and, most recently, as Business Operations Risk
director. He graduated from Wake Forest University School of Law
and worked as an attorney. He holds a bachelor’s from Denison
University. Wenzel begins at Wells Fargo on June 26.
About Government & Institutional Banking
Wells Fargo Government & Institutional Banking supports more
than 4,000 government, education, nonprofit, and healthcare clients
across the United States. The firm organizes specialized commercial
banking and capital markets teams under one business, offering an
integrated approach to provide the most value for its clients.
Government Banking serves federal, state, county, and city
governments, government agencies and authorities, municipal
utilities, school districts, and specialty public sectors such as
public power, housing, finance, and transportation. The Education
and Nonprofit group serves colleges, universities, 501(c)
organizations, foundations, endowments, and national nonprofits.
Healthcare Financial Services serves nonprofit hospitals
systems, nonprofit healthcare insurers, and academic medical
centers.
About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital
markets and advisory products and services, including public debt
and equity origination and distribution, investment research,
interest rate, commodity and equity risk hedging, mergers and
acquisitions advice, prime services, structured lending facilities,
foreign exchange services, and municipal bond origination. Wells
Fargo Securities consists of nearly 5,000 team members in more than
40 offices across North America, Europe and Asia. Wells Fargo
Securities is the trade name for certain securities-related capital
markets and investment banking services of Wells Fargo &
Company and its subsidiaries, including Wells Fargo Securities,
LLC, member NYSE, FINRA, NFA, and SIPC, and Wells Fargo Bank, N.A.,
acting through its Municipal Products Group.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $2.0 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 8,500 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
273,000 team members, Wells Fargo serves one in three households in
the United States. Wells Fargo & Company was ranked No. 25 on
Fortune’s 2017 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170626005095/en/
MediaGabriel Boehmer,
503-784-5319gabriel.h.boehmer@wellsfargo.com@GabeBoehmerWF
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Feb 2024 to Mar 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Mar 2023 to Mar 2024