Wells Fargo opens commercial banking office in Worcester
Photo | Grant Welker
Bank of America's branch on Park Avenue in Worcester
Wells Fargo has opened a regional banking services office in Worcester as just the fifth New England location for the country's third largest bank.
The small office at 255 Park Ave. includes three employees, with a couple more expected in the next few years.
The office is led by Deborah Larsen, the head of commercial lending operations in Central and Western Massachusetts, who is an Assumption College graduate. Larsen heads Wells Fargo's local middle-market banking business, which provides credit, treasury management and deposit products and services for companies that have revenue of $20 million or more.
Such middle-market companies are key for the economy, Wells Fargo said in announcing the Worcester location. More than 200,000 such companies generate more than $10 trillion in annual revenue, the bank said.
San Francisco-based Wells Fargo first opened New England offices in 2015. It is now in Boston; Providence; Portland, Maine; and Manchester, N.H.
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