Wells Fargo & Company (NYSE: WFC) today announced that Mark Myers, Executive Vice President and head of Commercial Real Estate (CRE) within the company's Wholesale Banking group, has shared his intention to retire. Myers, 64, has been with Wells Fargo for 39 years, and will stay in his role until February 14, 2020. Wells Fargo expects to announce a new head of Commercial Real Estate in the coming weeks.
"Throughout his 39 year tenure at Wells Fargo, Mark has played a critical role in some of Wholesale's most significant business initiatives," said Perry Pelos, head of Wholesale Banking. "His wealth of knowledge and experience are unparalleled and, under his leadership, CRE has developed an industry-leading platform and has been ranked the #1 commercial real estate lender in the U.S. for the past decade. But beyond his contributions to the company, Mark has been a trusted friend and a committed mentor to his team. He is leaving this business in tremendous shape and I'm confident that the strong leadership bench he developed throughout his career will build on the strong foundation Mark helped create."
As Head of Commercial Real Estate, Myers oversaw the company's delivery of a comprehensive platform of banking, financing, and servicing solutions for commercial real estate developers and investors inclusive of balance sheet lending, CMBS origination, capital markets distribution, warehouse lending and loan servicing, agency financing for multifamily assets, and debt and equity capital for affordable housing. Under Myers' leadership, CRE has been ranked #1 commercial real estate lender since 2009i, #1 Primary and Master Servicer of commercial real estate loans by volume in the U.S.ii, #1 in market share by commercial real estate loans outstandingiii, and #1 CRE CLO bookrunner since 2013iv.
Myers joined Wells Fargo in 1980 and during an almost 40-year career he has held a number of senior leadership positions in the Commercial Real Estate, Corporate, Capital Markets, and Special Situation Groups, and he was named head of CRE in 2011. He has been based in San Francisco for the majority of his career, and is a member of Wells Fargo's Management Committee. Mark currently serves on the Board of Trustees of the International Council of Shopping Centers (ICSC) and is a Trustee of the Urban Land Institute (ULI). He is also a member of the Real Estate Roundtable and is on the Policy Advisory Board Executive Committee of the Fisher Center for Real Estate at the University of California, Berkeley.
"I'm beyond grateful for the opportunities Wells Fargo has afforded me. This is a special organization and we have the best team members and customers in our industry - just two reasons why I've chosen to build my career here," said Myers. "The time is right for this decision, and I am confident that we are well-positioned to build on our success, maintain our industry-leading platform, and continue serving our customers to meet their financial needs. I am heading into retirement with excitement and confidence our CRE business will continue to thrive."
About Wells Fargo
Founded in 1852 and headquartered in San Francisco, Wells Fargo & Company (NYSE:WFC) provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,500 locations, more than 13,000 ATMs, and the internet (wellsfargo.com). With approximately 261,000 team members, Wells Fargo serves one in three households in the United States. With its corporate philanthropy, Wells Fargo aims to pave a path to stability and financial success for underserved communities by focusing on housing affordability, small business growth, and financial health, among other local community needs. In 2018, Wells Fargo donated $444 million to nearly 11,000 nonprofits. For 10 consecutive years, Wells Fargo has held the honor of No. 1 in workplace giving by United Way Worldwide. Wells Fargo team members also actively support communities by donating more than 2 million hours of volunteer time in the last year. News, insights and more information on the company's overall corporate responsibility are available at Wells Fargo Stories and www.wellsfargo.com/impact.
i MBA Commercial / Multifamily Year-End Origination Rankings, 2018 ii MBA Commercial / Multifamily Mortgage Servicer Year-End Rankings, 2018 iii Federal Reserve Form FRY-9C, 2018 iv Commercial Mortgage Alert, as of December 31, 2018
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SOURCE: Wells Fargo & Company
Media Hannah Sloane 212-214-5257 Hannah.Sloane@wellsfargo.com Matt Hurwitz 415-396-6964 email@example.com @MattHurwitzWF