Banking

August 26, 2014

Wells Fargo taps Wachovia veteran as Carolinas’ lead regional president

Wells Fargo has named a former Wachovia executive as lead regional president for the Carolinas, a position that oversees the lender’s consumer and small-business banking activities in both states.

Wells Fargo has named a former Wachovia executive as lead regional president for the Carolinas, a position that oversees the lender’s consumer and small-business banking activities in both states.

Rick Redden, Wells Fargo’s regional president for South Carolina, fills the position formerly held by Stan Kelly, the San Francisco-based lender said.

In May, Wells Fargo announced Kelly’s retirement as head of community banking for the Carolinas, a position he had held since Wells Fargo’s purchase of Charlotte-based lender Wachovia six years ago.

Redden, 44, who had been based in Charleston, will work in Charlotte, where he will report to Laura Schulte, president of Wells Fargo’s Eastern U.S. community bank operation. Redden will oversee a territory that includes 460 branches and 5,100 employees across the Carolinas.

Like Kelly, Redden came to Wells Fargo through its 2008 purchase of Wachovia.

After that deal, Redden remained South Carolina regional president, a role he had taken on for Wachovia in 2007. Before that, he held various roles in Wachovia, which he joined in 1993 when the lender was based in Winston-Salem.

Redden will work from Kelly’s former office in uptown Charlotte on the 40th floor of One Wells Fargo. His schedule did not permit him to be available for comment Tuesday, Wells Fargo said.

Kendall Alley, president of community banking for the Charlotte region, will report to Redden. Alley, who is based in Charlotte, has held his position since the Wachovia purchase. Alley also joined Wells Fargo through the Wachovia deal.

Wells Fargo operates its East Coast hub from Charlotte and employs about 22,100 across various business lines in the Charlotte region.

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