Wells Fargo Mortgage Residential Real Estate Lending


Wells Fargo Names Industry Veteran to New Capital Markets Position for Residential Real-Estate Secured Lending Businesses

DES MOINES, Iowa, April 11  -- Wells Fargo & Company (NYSE:
WFC) said today it has named industry veteran John Gibbons to the new
position of head of capital markets -- including all loan sale,
securitization and hedging activities -- for its residential real
estate-secured lending businesses in its Home and Consumer Finance Group.
"Wells Fargo already is a leader in the Capital Markets arena and
adding John to our team further expands our depth of experience and
expertise so we can continue to be a leader in offering the broadest
possible range of products to consumers," said Mark Oman, senior executive
vice president and head of the Wells Fargo Home and Consumer Finance Group.
Gibbons, who brings to Wells Fargo more than 20 years of mortgage
industry experience, will report to Mike Heid, division president for Wells
Fargo Home Mortgage, part of Wells Fargo Bank, N.A. Gibbons will support
Wells Fargo Home Mortgage, the nation's leading retail mortgage lender,
headquartered in Des Moines; Des Moines-based Wells Fargo Financial, a
leading provider of credit products to both consumers and commercial
businesses; and Wells Fargo Consumer Credit Group, a leading provider of
home equity and personal credit accounts, based in San Francisco.
Before joining Wells Fargo, Gibbons served as senior consultant with
Hollister LLC and vice chairman and strategist with Overture Corp. In
addition to other consulting and strategy development roles with the
Federal Home Loan Banks, insurance companies, banks and investment
management firms in the United States and Canada, his experience includes
positions with Freddie Mac, Merrill Lynch, and Standard & Poor's. He joined
Freddie Mac in 1991 and was executive vice president and chief financial
officer of Freddie Mac from 1996 to 2000. He has a masters' degree in
finance from the Wharton School of the University of Pennsylvania and
earned his doctorate in government and bachelor's degree in social studies
from Harvard University.
Wells Fargo & Company is a diversified financial services company with
$482 billion in assets, providing banking, insurance, investments, mortgage
and consumer finance to more than 23 million customers from more than 6,200
stores and the internet ( http://wellsfargo.com ) across North America and
elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the
United States to receive the highest possible credit rating, "Aaa," from
Moody's Investors Service.

SOURCE Wells Fargo Home Mortgage
Web Site: http://wellsfargo.com

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