Wells Fargo & Company announced that 33-year banking veteran Alfred (Al) Kenrick will lead Middle Market Banking (MMB) in Silicon Valley, including three offices in Palo Alto, San Jose and Monterey.
Based in Palo Alto, Kenrick now leads a local team of 30 commercial banking experts in Silicon Valley who provide credit, treasury management and deposit products to middle market companies outside the technology sector with annual revenues of $20 million and higher. Tech companies in Silicon Valley are served separately by the bank’s Technology, Media and Telecom group.
Reporting to Kenrick are Marci Davis, head of the Monterey team, and Troy French, head of the San Jose-based Santa Clara Valley team. Kenrick will manage the Palo Alto regional office formerly led by Sunil Pandya, who joined the bank’s commercial loan supervisory group.
“Al has a long history of building trust and helping Silicon Valley Middle Market companies succeed,” said Steven Sloan, Northern California Division manager for Wells Fargo Middle Market Banking. “He has demonstrated leadership qualities and commitments to this market and team. Al will lead with integrity, diligence and continued commitment to serving our clients and this community.”
Kenrick most recently led the Silicon Valley region for Wells Fargo Global Banking. He began his career in 1984 as a commercial banking officer for First Interstate Bank of California, progressing through commercial and corporate banking roles in San Francisco and Silicon Valley. In 2000, Kenrick joined Silicon Valley Bank, responsible for providing private equity placement and sell-side advisory services to early-stage tech companies, eventually managing a commercial banking team for the semiconductor and communications equipment industries. He returned to Wells Fargo in 2004 to develop relationships with venture capital-backed technology and life sciences companies.
Kenrick earned a bachelor’s degree from the University of California, Santa Barbara, and an MBA from San Francisco State University. He is past board chair of Lytton Gardens Senior Communities, Palo Alto, and has been active with the Silicon Valley Association for Corporate Growth; the University of California, Santa Barbara Alumni Association; and Covia Affordable Communities.
A Palo Alto resident, Kenrick is among more than 43,000 Wells Fargo employees who live, work, and support customers and communities in California. More than 1,600 Wells Fargo team members live and work in Silicon Valley communities. In 2017, Wells Fargo served Silicon Valley customers and communities through philanthropic investing of more than $22.7 million to 97 local nonprofits and schools, including $1.15 million for community development projects. Wells Fargo offers financial services — including banking, investments, mortgage, and consumer and commercial finance — to customers in Santa Clara County.