ALBUQUERQUE, N.M. — Wells Fargo has created a new southwest division of its Middle Market Banking business that will include New Mexico, Arizona and Nevada.
The division serves companies with more than $20 million in annual revenue.
Heading the new division will be Neal Crapo, a senior vice president and 25-year Wells Fargo commercial banker. He will be based in Phoenix.
Crapo has led the bank’s Food and Agribusiness Eastern Division since 2013.
“The region’s diverse economy has been a key factor in Wells Fargo’s steady growth among Southwest middle market companies” said MaryLou Barreiro, who leads the Mountain Midwest Region and the National Food and Agribusiness Division leadership for Wells Fargo Middle Market Banking. “The growing number of companies relocating to and expanding in the region continues to drive job growth and diversity, and the need for more complex financial services solutions. The addition of Neal will help Wells Fargo Middle Market Banking’s team reach more customers, including food and agribusiness companies located in the Southwest.”