Tara Handforth, a former Philadelphia resident, will be returning to the area as Wells Fargo’s mid-Atlantic division executive, where she will lead a team of more than 130 commercial bankers across five states and Washington, D.C.
The Commercial Division provides a range of services, including loans, treasury and deposit management to companies in the middle market with sales between $25 million and $5 billion. Handforth's office will be in the Conshohocken branch of Wells Fargo (NYSE: WFC).
Handforth most recently served as the bank's East Region Market Executive for Upstate New York, and Eastern Canada. She was raised in Philadelphia and spent the majority of her 25 year banking career with Wells Fargo, its predecessors and other banks in various roles including commercial lender. She graduated from Academy of Notre Dame de Namur in 1993 and earned a Bachelor's Degree at Boston College. In 1997, she received an MBA from Villanova University.
New Jersey does not form part of her new territory.
Handforth takes over the interim leadership role from Preeti, a Virginia-based leader. Sarnaik, who is based in McLean (Virginia), will resume her full-time position as division portfolio executive of credit. She has been filling in for Washington-based Abby Matia, who was promoted to the position of head of risk at commercial banking.
Charlie Cowles will report to Handforth, and is the Wells Fargo commercial banking leader in Pennsylvania and Delaware.
The commercial changes come after a Business Journal report that San Francisco's Wells Fargo would be changing its leadership in local retail banking. Wells Fargo is the second largest bank in the Philadelphia region by deposits.
Michelle Lee, the head of regional branch banking for Wells Fargo’s East Coast operations announced her retirement recently, along with Joe Kirk, local region president. John Zimmerman has been appointed leader of the Carolina East Region in Raleigh, North Carolina. Zimmerman has led the bank’s presence in South Jersey, and has recently begun overseeing parts Bucks and Montgomery Counties. No replacements were named.