News Column

Wells Fargo names new regional president for the Carolinas

August 26, 2014

By Deon Roberts, The Charlotte Observer

Aug. 26--Wells Fargo said Tuesday it has named a new lead regional president for the Carolinas, a role that oversees lending to consumers and small businesses across both states.

Rick Redden, Wells Fargo's regional president for South Carolina, fills the position formerly held by Stan Kelly, the San Francisco-based lender said.

In May, Wells Fargo announced Kelly's retirement as head of community banking for the Carolinas, a position he had held since Wells Fargo's purchase of Charlotte-based lender Wachovia six years ago.

Redden, who will be based in Charlotte, will report to Laura Schulte, president of Wells Fargo's Eastern U.S. community bank operation. Redden will oversee a territory that includes 460 branches and 5,100 employees across North and South Carolina.

Like Kelly, Redden came to Wells Fargo through its 2008 purchase of Wachovia.

After that deal, Redden remained in his South Carolina regional president position, which Wachovia gave him in 2007.

As South Carolina regional president, Redden has been based in Charleston. Before being appointed to that position, he held various roles in Wachovia, which he joined in 1993 when the lender was still based in Winston-Salem.

Redden will work from Kelly's former office in uptown Charlotte on the 40th floor of One Wells Fargo. His schedule did not permit him to be available for comment Tuesday, Wells Fargo said.

Wells Fargo operates its East Coast hub from Charlotte and employs about 22,100 across various business lines in the Charlotte region.

The lender is the second-largest bank by market share in the Charlotte metropolitan area, after No. 1 Bank of America.


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Source: Charlotte Observer (NC)

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