Wells Fargo hires Asia global banking head

Wed Mar 13, 2013 2:44pm EDT
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March 13 (Reuters) - Wells Fargo & Co said it named a former Bank of America Corp executive to head its global banking operations in Asia as part of an ongoing international expansion.

Colm McCarthy will lead treasury management and trade financing services for corporate customers in the region, the bank said on Wednesday. He will be based in Singapore, reporting to Sanjiv Sanghvi, head of Wells Fargo's global banking group.

The fourth-largest U.S. bank, best known as a domestic retail bank, has said it plans to expand lending, treasury management and other services in 20 countries outside the United States in the coming years.

In January, Wells named Joe Saffire, an HSBC Holdings Plc veteran, to lead operations in Europe, the Middle East and Africa. In November, the bank said it was adding wholesale business lines in Canada.