Wells Fargo & Company announced that Monica Cole has succeeded Laura Oberst to head Middle Market Banking for the North Region. Oberst was tapped in September to lead the company’s Business Banking Group.
Cole has led the Southern Division of Wells Fargo Middle Market Banking since 2014, managing more than 100 team members at regional offices in Arkansas, Kansas, Missouri, North Texas, and Oklahoma. In her new role, Cole, who is relocating to Chicago, oversees more than 350 team members in six states, including Illinois, Indiana, Michigan, Minnesota, Ohio, and Wisconsin. She will report to John Adams, head of Middle Market Banking, which serves mostly privately held, family owned businesses with annual sales of $20 million or greater.
“Monica is a proven leader who has developed exceptional leadership skills and brings a wide-ranging perspective and understanding of the middle market,” Adams said. “I expect her to make an immediate impact by continuing our momentum in the northern U.S., helping thousands of middle market customers reach their financial goals.”
A 22-year Wells Fargo veteran, Cole began her career as a Norwest Corp. corporate banking trainee. She then held roles of progressing responsibility, building broad experience as a senior portfolio and relationship manager, as well as a loan administration officer. Cole joined Middle Market Banking in July 2014 after spending four years as east region business credit manager for Wells Fargo Capital Finance, where she was responsible for growth and risk management of smaller middle-market accounts in the eastern U.S. and eastern Canada.
A champion of diversity and inclusion, she co-chairs Wells Fargo’s Middle Market Women’s Growth Initiative, creating events and other services to help women expand their businesses. Cole also serves on the Wells Fargo Black African American Leadership Council. She volunteers on the Boys and Girls Club of Greater St. Louis board.
Cole earned her bachelor’s degree in mechanical engineering from Christian Brothers University in Memphis, Tennessee, and her MBA in finance from Clark Atlanta University.