The industry leader will assume the CRE position next year
Wells Fargo has tapped a new exec to lead its commercial real estate (CRE) business shortly after announcing the plan of the current head to retire next year.
The new head of CRE, Kara McShane, will replace Mark Myers on Feb. 14. In her new role, McShane will oversee the firm’s delivery of a comprehensive banking and servicing platform for commercial real estate developers and investors.
“Kara is an exceptional leader who has made a significant impact on our CRE business since joining our company nine years ago,” said Perry Pelos, head of wholesale banking at Wells Fargo. “She brings extraordinary vision, energy, experience, and industry relationships that make her ideally suited for this role. I am confident she is the right leader to guide our CRE business in the future.”
McShane joined Wells Fargo in 2010 and has held several senior roles within the CRE and asset-backed finance departments. Before Wells Fargo, she spent seven years at Morgan Stanley, where she served as managing director and head of securitized products group capital markets, as well as co-head of commercial real estate capital markets and trading.
“It is a great honor to be offered this opportunity to lead our CRE platform,” McShane said. “I am confident we will continue to build on our successes to date, and look forward to working closely with the team to further solidify our industry-leading position and to working in lockstep with our customers to help them thrive and grow.”
