SUMMIT, NJ—Wells Fargo & Company has lured a veteran Bank of America executive, Peter Dontas, to lead the newly created New Jersey Division of Wells Fargo Commercial Banking. He leads a team of 57 commercial banking professionals who serve middle-market companies through four Wells Fargo Regional Commercial Banking (RCBO) and satellite offices throughout New Jersey. Dontas is based in Summit until the company opens its office in Iselin.

Dontas, a 32-year industry veteran, most recently was New Jersey market executive for commercial and middle-market banking with Bank of America. In his new role, Dontas serves as the senior executive for Wells Fargo's Commercial Banking in New Jersey ? a region previously covered out of New York City and Philadelphia. Bringing the New Jersey offices under one umbrella also brings local senior leadership and local credit decisions to middle market customers throughout the state, the bank says.

“Pete has tremendous experience and a deep understanding of the New Jersey market, the businesses here, and the nuances of the region,” says Wells Fargo's Commercial Banking head for the East Region, John Manning. “His leadership will be invaluable in helping middle-market companies succeed financially as we grow throughout the region.”

The bank has seen increasing opportunities in the New Jersey region and began adding senior bankers earlier this year, including the recent addition of longtime New Jersey businessman Howard Cohen as the region's executive advisor for Wells Fargo Commercial Banking, Manning says.

“New Jersey is a strong growth market, and Wells Fargo is committed to local resources and strong senior leadership on the ground where our customers live and work,” says Manning, who noted New Jersey has experienced a resurgence of traditional industries such as manufacturing, distribution, real estate, and professional services. “By establishing a dedicated New Jersey division, and putting senior leadership in place in the market, we are better positioned to service existing customers and reach more potential customers throughout the Garden State.”

Dontas serves as secretary of the trustee board of Boys and Girls Club of Mercer County, where he is treasurer of the “More than Hope” campaign. In May, he was honored during the organization's annual Night of Shining Stars Gala.

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Wells Fargo Lures BofA Executive to Head NJ Commercial Banking

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