Wells Fargo Private Bank Launches in Metro New York, Greater Northeast; John Duchala Named Regional Manager

9 September 2008

Wells Fargo & Company (NYSE: WFC) today announced that Wells Fargo Private Bank is now serving the New York metropolitan and the Greater Northeast areas, the largest market for high-net-worth individuals in the United States. Wells Fargo today also named John Duchala regional manager responsible for this region.

Wells Fargo Private Bank now provides the New York metropolitan and Greater Northeast region’s growing number of high-net-worth individuals a full range of investment advice, solutions and services to help individuals and families build, manage, preserve and transfer their wealth. The Private Bank has been expanding since 2006 beyond Wells Fargo’s 23 Community Banking states, opening offices in Chicago and now in the Greater New York metro area.

“High net worth individuals and families need more than investment strategies and financial solutions, they deserve comprehensive advice from local professionals in their communities who will help them through every stage of their wealth lifecycle,” said Jay Welker, executive vice president and head of Wells Fargo’s Wealth Management Group. “Wells Fargo is in a unique position to serve these needs, as we have generations of experience in managing the complex issues that wealth creates. We are pleased to be able to extend these services to clients in the New York metro and Northeast regions.”

Duchala will lead all wealth management functions in this location. Before joining Wells Fargo, he was Northeast Regional Director for JPMorgan Private Client Services, based in New York, where he was responsible for personal trust, private banking, brokerage, and investment management services. Duchala has 22 years of wealth and investment management experience. He holds a master’s degree in business administration from Old Dominion University and a bachelor’s degree from State University of New York.

“Wells Fargo is committed to satisfying all the wealth and planning needs of our clients,” said Duchala. “I’m proud to join The Private Bank at such a pivotal time in its growth, building its capabilities and expanding its geographical reach on the East coast. We look forward to providing stellar service to our clients.”

Wells Fargo has successfully executed a similar coast-to-coast strategy in its Wholesale Banking group, opening regional Commercial Banking offices the last few years in Massachusetts, New Jersey, New York, Pennsylvania, and Florida.

Duchala will lead a team of investment managers, trust officers and financial consultants from the Wells Fargo Private Bank offices at 40 West 57th Street in New York City. He can be reached at (212) 707-6968.

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