Wells Fargo & Co said on Tuesday it hired an HSBC Holdings Plc veteran to lead its banking operations in Europe, the Middle East and Africa as it continues to expand its international operations.
Joe Saffire joins the fourth-largest U.S. bank by assets after 20 years with HSBC, where he most recently was chief operating officer and head of international banking in Germany. He will be based in London and report to Sanjiv Sanghvi, head of Wells Fargo's global banking group.
Wells said Saffire will focus on increasing business with U.S.-based companies in Europe and European companies that operate in the United States. The San Francisco-based bank has said it plans to expand lending, treasury management and other services in 20 countries outside the United States in the coming years.
In November, the bank said it was adding wholesale business lines in Canada after receiving a license that allows it to make loans to and take deposits from corporate customers but not consumers.
(Reporting By Rick Rothacker in Charlotte, N.C.; Editing by Tim Dobbyn)