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Wells Fargo Boosts Chicago Technology Banking Team with Investment in Talent

1. Wells Fargo expands Chicago team, emphasizing innovation in tech banking. 2. New hires from J.P. Morgan Chase to lead growth in tech sector. 3. Chicago's tech ecosystem supports strategic focus on local market growth. 4. Wells Fargo's funding initiatives aim to support emerging tech businesses. 5. Commitment includes increased retail banking centers and community support.

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Why Bullish?

The expansion and investment show Wells Fargo's commitment to growth, attracting tech clients. Historical expansions often led to increased market presence and stock performance.

How important is it?

The article discusses initiatives and team expansions that directly align with WFC's growth strategy in tech, enhancing its market position.

Why Long Term?

The impact of talent acquisition and market strategy will unfold over time, especially as tech spending rises. Past expansions have positively influenced market strength over years.

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SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo Technology Banking has expanded its Chicago-based team with two key hires, reinforcing the bank’s long-term commitment to innovation and growth in commercial banking for the tech sector. This expansion represents the largest investment in talent since the group’s inception 25 years ago. Kyle Duhon joins from J.P. Morgan Chase as a banker focused on scaling growth-stage technology companies. He will collaborate with Neuman Osman and Kristina Connolly, who support a wide range of tech clients—from emerging startups to publicly traded firms—with comprehensive financial solutions. John Stevens steps into the newly created role of National Division Sales Executive, where he will lead coast-to-coast sales strategy. His appointment reflects the sector’s continued momentum, driven by increased IT spending, AI investment, and a renewed focus on innovation. John also joins from J.P. Morgan Chase. “Wells Fargo’s Technology Banking division has supported thousands of tech companies for more than two decades. This latest investment signals our intention to continue focusing on growth, innovation, and client success,” said Tom Harper, Wells Fargo Technology Banking Division Executive, and leader of the national team. Chicago: A Strategic Growth Hub Matt Servatius, Market Executive and Central Practice Leader, covering states across the Midwest through Mountain and Texas geographies, emphasized Chicago’s pivotal role in the division’s expansion strategy: “Chicago’s tech ecosystem is thriving. Innovators are increasingly seeking financial companies who understand their unique needs. Wells Fargo offers a robust platform deeply connected to both local and national tech communities, and we are excited to welcome Kyle and John and remain committed to adding top talent in Chicago.” Making Waves in Chicagoland This expansion aligns with Wells Fargo’s broader commitment to the region. This includes doubling the size of its Commercial Banking sales team, increasing the number of retail banking centers, and supporting community development through philanthropy and real estate financing for multifamily and affordable housing. Additionally, recent initiatives to help scale small business growth in the community include the Wells Fargo Innovation Incubator, which recognized Evergreen Climate Innovations, a Chicago-based organization, as a 2025 IN2 Strategic Award Winner. The Wells Fargo Innovation Incubator (IN2) provides funding to develop a catalytic investment model for early-stage technologies. “Since Evergreen's early days, Wells Fargo has been a long-time contributor and supporter of our mission to serve climate tech founders across the Midwest. We’re thrilled to see this key Financial Institution continue to invest in the innovation ecosystem of Chicago,” said Michelle Carr, CEO of Evergreen Climate Innovations. Wells Fargo also recently launched the Open for Business Growth program in Chicagoland, including a $2.5 million grant to Allies for Community Business, a nonprofit supporting local entrepreneurs with capital, coaching, and connections. About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune’s 2024 rankings of America’s largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at www.wellsfargo.com LinkedIn: https://www.linkedin.com/company/wellsfargo About Wells Fargo’s Technology Banking Group As part of the Commercial Banking division, Wells Fargo’s Technology Banking Group has delivered specialized insights and recommendations to technology companies for more than 25 years. The team provides scalable support to clients in all stages of the business lifecycle – early, growth, and maturity – and combines industry experience with the strength and resources of one of the largest U.S. commercial banks. Primary subsector focus includes Software, Fintech, E-commerce, Semiconductor, Business & Technology Services, and Sustainable Tech. See more insights and perspectives from Wells Fargo Technology Banking.

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