Wells Fargo Names Hugh Long Head of Business Banking

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Hugh Long, the president of Wells Fargo's (WFC) Pennsylvania and Delaware market is leaving the post to become the bank's new head of business banking.

In the newly created position, Long and his team will target businesses with annual revenue of $2 million to $20 million. Long will report to Carrie Tolstedt, Wells Fargo's executive vice president of community banking who oversees the company's retail and business-banking operations.

The Philadelphia Business Journal reported Long's promotion on its website late Tuesday.

Long is a former regional chief executive at Wachovia and became head of the Pennsylvania and Delaware region when San Francisco-based Wells Fargo acquired Wachovia in 2009. He began his career at First Union, which merged with Wachovia in 1998.

With Long leaving, the Delaware and Pennsylvania region will be folded into a five-state Northeast region headed by Michelle Lee, the Philadelphia Business Journal reported. Lee already oversees Wells Fargo's operations in New Jersey, New York and Connecticut.

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