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Wells Fargo Commercial Bank Slated For Long Island City

Wells Fargo

Dec. 16, 2015 Staff Report

Wells Fargo will open a commercial banking location in Long Island City next year, its first outside of Manhattan.

The new Regional Commercial Banking Office will sit at 47-40 21st St. and is slated to open in March 2016.

Wells Fargo’s RCBO customers are businesses including manufacturers, wholesalers, retailers and service companies. According to a release from the company, this new office is geared in particular towards the outer boroughs’ middle market companies in industries such as warehousing, transportation, real estate, manufacturing, distribution, apparel and healthcare.

Historically, Wells Fargo has served outer borough middle market companies from its Manhattan offices.

“Establishing offices in New York’s outer boroughs offers Wells Fargo a unique opportunity to serve middle market companies in Queens, Brooklyn, Staten Island and the Bronx close to home with local bankers,” John Manning, head of Wells Fargo Commercial Banking’s East Region, said in a statement.

The Long Island City office will be led by Josephine Savastano, who joined Wells Fargo in 2013 as an RCBO regional vice president. Savastano is also a Long Island City Partnership board member.

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There are more banks than we need. In Manhattan there are banks and Duane Reades on every corner. I hope that don;t happen here in LIC.


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