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Wells Fargo Eyes Metro Park for New Commercial Hub in Central NJ

August 28, 2015, 07:21 AM
Filed Under: Industry News

Wells Fargo has its sights set on the Metro Park area in Iselin, New Jersey for its Commercial Banking hub for the Central part of the state. At the helm of the Regional Commercial Banking Office (RCBO) in Metro Park is James King, who has been promoted to regional vice president.

Increased demand for Wells Fargo products and services from the region’s companies – including the manufacturing, distribution, healthcare, hospitality, and commercial real estate sectors – spurred the bank’s expansion into Central New Jersey.

“Wells Fargo has a focused strategy on New Jersey, and establishing a formal RCBO in Central New Jersey is part of the overall investment we are making in the region,” said John Manning, head of Commercial Banking for the East Region. “Central New Jersey is part of a larger commitment to grow our business throughout the state. Jim King, a fellow Rutgers graduate, has deep New Jersey roots, and a breadth of experience and knowledge working with middle market companies.”

A 29-year Wells Fargo veteran, King leads a team of 17 commercial banking professionals, currently based in Basking Ridge, who serve middle-market companies throughout Central New Jersey. In addition to the office opening in Iselin, Wells Fargo has New Jersey Regional Commercial Banking Offices in Haddon Township and Summit, with a satellite office located in Princeton. All Basking Ridge team members will be relocating to Metro Park.

King began his banking career with First Fidelity Bank and since 1996 has held positions in commercial banking with Wells Fargo predecessor’s Wachovia Bank and First Union National Bank. Since that time, he has held various relationship management roles at Wells Fargo, and most recently was a senior relationship manager and group leader in Commercial Banking in Southern New Jersey.

With more than 140 offices in 38 states and three Canadian provinces, Wells Fargo Commercial Banking provides local service and decision-making for businesses with annual revenues of greater than $20 million. Asset-based lending, traditional secured loans, and capital markets provide access to working capital for day-to-day operations and growth.

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