Wells Fargo Names Peter Hill, 25-Year Industry Veteran, Head of Public Finance Investment Banking

Wells Fargo & Company (NYSE:WFC) today named Peter J. Hill – a 25-year investment banking veteran – head of Public Finance Investment Banking. Hill is based in New York City where Wells Fargo plans to headquarter its public finance investment banking business.

"Peter is a proven leader in investment banking,” said Phil Smith, head of Government & Institutional Banking and Municipal Products for Wells Fargo. "As we bring the Wells Fargo and Wachovia teams together, Peter is the right person to take our combined business to the next level so we can satisfy all our customers’ financial needs and help them succeed financially.”

In his new role, Hill will report to Smith and manage the company’s Public Finance Investment Banking business. With approximately 165 associates in 28 offices, Wells Fargo Public Finance Investment Banking provides advisory services, municipal derivatives, structured products and institutional trading, underwriting and sales to government and institutional customers throughout the U.S. As of the end of 2008, Wells Fargo, combined with Wachovia’s public finance investment banking business, was ranked one of the top 10 underwriters in the U.S.

Hill’s 25 years of experience in investment banking includes 14 years as managing director and head of the U.S. Public Finance department for J.P. Morgan Securities. Before he joined Wells Fargo, Hill served as managing director and head of public finance investment banking at Banc of America Securities.

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,400 stores, over 12,000 ATMs and wellsfargo.com across North America and internationally.