SAN FRANCISCO–Wells Fargo & Company (NYSE: WFC) today announced that Kara McShane has been named head of Commercial Real Estate (CRE) within the company’s Wholesale Banking group. She will assume this role on February 14, 2020, upon Mark Myers’ retirement.
“Kara is an exceptional leader who has made a significant impact on our CRE business since joining our company nine years ago,” said Perry Pelos, head of Wholesale Banking. “She brings extraordinary vision, energy, experience, and industry relationships that make her ideally suited for this role. I am confident she is the right leader to guide our CRE business in the future.”
McShane joined Wells Fargo in 2010 and has held various senior roles within CRE and Asset-Backed Finance. Most recently, she was head of Structured Real Estate. Previously, she served as managing director and head of Commercial Real Estate Capital Markets and Finance. Prior to joining Wells Fargo, McShane spent seven years at Morgan Stanley, where she was managing director and head of Securitized Products Group Capital Markets, as well as co-head of Commercial Real Estate Capital Markets and Trading. She has also held roles at AllianceBernstein and Sanford C. Bernstein & Co.
“It is a great honor to be offered this opportunity to lead our CRE platform,” said McShane. “I am confident we will continue to build on our successes to date, and look forward to working closely with the team to further solidify our industry-leading position and to working in lockstep with our customers to help them thrive and grow.”
An active member of the industry and community, Kara serves on the board of Breaking Ground, a leading NYC nonprofit that offers supportive and affordable housing as well as programs for homeless and other vulnerable New Yorkers. She was a founding member and currently serves on the Commercial Real Estate Finance Council (CREFC) Women’s Network Advisory Board. She previously served on the Board of Governors of CREFC’s predecessor, the Commercial Mortgage Securities Association.
McShane received her A.B. in economics from Duke University, and her M.B.A. in finance and management from Columbia University’s Graduate School of Business.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s 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, investment and mortgage products and services, as well as consumer and commercial finance, through 7,500 locations, more than 13,000 ATMs, the internet and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 261,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.