Banking News

Wells Fargo Names Derek Ellington Head of Small Business Banking

Wells Fargo Names Derek Ellington Head of Small Business Banking

Wells Fargo & Company announced that Derek Ellington will join the company on October 18 as the head of Small Business Banking. He will report to Consumer & Small Business Banking CEO Mary Mack.

Ellington joins Wells Fargo from Bank of America where his 24-year career spanned numerous roles in retail banking, commercial banking, credit, and small business banking. Most recently, Derek was the Business Banking Region Executive for the Atlantic South Region. Derek also served as the President of the North Carolina Triad region where he was responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to individuals, families and companies across the region.

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As the head of Small Business Banking, Ellington will be responsible for driving growth and helping small business clients succeed financially. Ellington and the Small Business team of nearly 2,000 dedicated professionals are focused on ensuring small businesses recover from the pandemic and are set up for long-term success.

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“We’re thrilled to have Derek join us as the new head of Small Business Banking,” said Mack. “Over the past year and a half, we have sharpened our focus on serving the most fragile small businesses through the pandemic and into economic recovery, and Derek’s experience and leadership will serve us well as we continue to elevate our support of small businesses.”

Ellington is a graduate of Troy University and holds a Masters of Arts from Birmingham Southern College. He is a frequent speaker on small business topics and received the Bank of America Global Diversity and Inclusion Award in 2017.

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