Wells Fargo has promoted its head of middle-market banking, Kyle Hranicky, to CEO of commercial banking, effective immediately.
Hranicky succeeds Perry Pelos, who is transitioning to an advisory role until he retires from the company in April 2022.
Hranicky joined Wells Fargo in 1995 as a commercial banking analyst. Since then, he’s worked as a manager in the loan syndications group, head of the energy group and head of corporate banking. In his new role, Hranicky will report directly to CEO Charlie Scharf and will also serve on the bank’s operating committee.
“Kyle’s broad experience in commercial banking and his longstanding relationships with Wells Fargo clients and colleagues will serve him well as head of the business,” Scharf said in a press release. “He’s built a strong track record during his time at Wells Fargo, and I know he’ll bring both consistency and fresh perspective to the role.”
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Previously the head of wholesale banking, Pelos became CEO of Wells Fargo’s commercial banking last year when the company split its wholesale banking business into two distinct units: corporate and investment banking and commercial banking. In that prior role, he oversaw commercial capital, treasury management, business banking, government and institutional banking, and middle-market banking.
Pelos joined Wells Fargo’s commercial banking training program in 1987 and held a number of leadership roles since that time. In a press release, Pelos said the commercial banking team’s “meaningful work” over the past five years included improving anti-money-laundering controls that helped free the bank from a consent order from the Office of the Comptroller of the Currency late last year.
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