Wells Fargo Names New Head of Middle Market Banking in Nevada

Business Wire 18-Jul-2017 9:00 AM

Denette Suddeth to lead commercial banking teams serving middle market companies in The Silver State

LAS VEGAS--(BUSINESS WIRE)-- Wells Fargo Middle Market Banking announced today that it has named 20-year banking veteran Denette Suddeth to lead its continued growth in Nevada. Suddeth succeeds former Regional Manager Phil Horrell, who was promoted to market executive, a new role focused on commercial initiatives that foster new business opportunities in the Southwest.

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Denette Suddeth (Photo: Business Wire)

As senior vice president and regional manager, Suddeth now oversees 18 Nevada commercial lending professionals in Reno and Las Vegas who deliver Wells Fargos localized approach to serving middle-market companies with annual revenues of $20 million and above. The regional offices provide Wholesale Banking services to customers in a range of industries, including gaming, manufacturers, retail, distribution, and technology.

Having worked alongside Denette for many years, there is no doubt that Im leaving our Nevada customers and teams in capable hands, said Horrell, who was regional manager for Wells Fargo Middle Market Banking in Nevada from 2003 to 2017. Denette has lived in Las Vegas for more than 40 years and has helped customers succeed through all business cycles.

Prior to Suddeths promotion, she served five years as loan team leader for Wells Fargo Middle Market Banking in Las Vegas. Suddeth joined Wells Fargo in 2012 after many years with U.S. Bank, where she held leadership roles in relationship development, gaming industry services, and middle market banking.

Suddeth earned her bachelors degree in managerial finance from University of Nevada, Las Vegas. She also attended the Northwest Intermediate Commercial Lending School in Portland, Oregon, and the Pacific Coast Banking School in Seattle. An active member of her community, Suddeth serves as vice chair for the United Way of Southern Nevada. She also acted as chairman of the board for the Junior Achievement of Southern Nevada, and as council member for the Nevada Department of Education advisory council on Family Engagement.

More than 3,425 Wells Fargo team members live, work, and support customers and local communities in Nevada. Team members volunteered more than 20,000 hours last year to support non-profits and schools in communities across the state. In 2016, Wells Fargo donated more than $2.1 million to Nevada nonprofits and schools, including $776,356 in direct regional contributions to improve education in Nevada.

About Wells Fargo Middle Market Banking

Wells Fargo is No. 1 in total middle market banking share in the U.S. and has the most primary banking relationships with middle market companies with $25 million to $500 million in annual sales.* With 140 offices in 38 states and four Canadian provinces, Wells Fargo Middle Market Banking provides local service and decision-making for businesses with $20 million to $500 million-plus in annual sales. Asset-based lending, traditional secured loans, and capital markets provide access to working capital for day-to-day operations and growth. Expertise and services are available to specialty industries, including technology,food and agribusiness, healthcare, government, higher education, clean technology, and environmental services. Watch stories about successful middle market companies at http://wholesalebanking.wf.com/cmbg-success-stories.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargos vision is to satisfy our customers financial needs and help them succeed financially. 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 271,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortunes 2017 rankings of Americas largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

* Barlow Research Middle Market Rolling 8 Quarter Data 4Q2014-3Q2016, showing Wells Fargo's competitive market performance among companies with $25MM-<$500MM in sales for both primary bank market share and total market share (primary + up to 3 additional banks used).

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Media Jeanette D. Foster, 415-396-0560Jeanette.D.Foster@wellsfargo.com@JFosterWF

Source: Wells Fargo & Company