Wells Fargo announced that Tim O’Hara will join the Corporate & Investment Bank (CIB) on May 9, as head of Banking. In this role, Tim will lead corporate and investment banking origination and execution within CIB’s Banking Division, which is comprised of industry, regional and specialty coverage, equity and debt capital markets, mergers and acquisitions, corporate lending, portfolio management, and treasury management. O'Hara joins Wells Fargo from BlackRock where he served as Global Co-Head of Credit since 2017. Prior to that, Tim spent 28 years at Credit Suisse AG. He will report to Jon Weiss, CEO of the Corporate & Investment Bank.
“Tim has built an impressive career at two of our industry’s leading firms and he brings the leadership skills, business acumen, industry knowledge and ambitious vision to lead our business into the future,” said Weiss. “I look forward to leveraging his expertise and insights to maximize our potential and achieve even greater partnership and strategic dialogue with our corporate and institutional clients.”
Rob Engel, who has led Banking since 2014 and joined the Company in 2005, will assume the new role of Chairman of Banking. He will report to Tim and will remain on the CIB Operating Committee.
Weiss added: “Rob has been a trusted colleague and partner to many clients and fellow bankers, and we are fortunate to continue to draw on his energy, experience and expertise in dialogue with many of our most important clients. He is a terrific leader and strategic thinker and he’ll be a critical part of our continued success in his new role as Chairman of Banking.”
At BlackRock, O'Hara spent the last five years implementing the growth of the firm’s alternative asset investment business and he also helped develop the firm’s private capital markets capabilities. Tim contributed to growing BlackRock Alternative Investors’ Global Credit business to more than $170bn in AuM. He also served on multiple management and investment committees, including BlackRock Alternative Investors’ Executive Committee, BlackRock’s Global Operating Committee, the Global Human Capital Committee, and the investment committees for, among other investment strategies, direct lending, opportunistic credit, and private equity.
Prior to BlackRock, O'Hara spent three decades at Credit Suisse, where he held a variety of leadership positions, culminating in his role as managing director and CEO of Credit Suisse Global Markets. In this position, he led the Global Markets business, across all international regions, and served the needs of clients at the highest level, while driving profitable growth and increasing market share. Other roles he held included: President and CEO of Credit Suisse Holdings USA, Global Co-Head of Investment Banking, Head of Fixed Income, North America, Global Head of Equities, Global Head of Credit Products and Head of Leveraged Finance.
O'Hara serves on the Board of Directors of the University of Virginia's Investment Management Company (UVIMCO) which oversees the endowment for the University of Virginia. He is also a member of the University of Virginia College Foundation Board and he co-heads the Foundation's New York Council. Tim is a past member of the board of directors of the Securities Industry and Financial Markets Association (SIFMA), where he was also a member of the Executive Committee of the Board, and he served as a member of the Board of Trustees of the Credit Suisse Americas Foundation and the Credit Suisse A.G. Foundation.
O'Hara is a graduate of the University of Virginia, and he has an MBA from the Wharton School of Business at the University of Pennsylvania.