Wells Fargo & Co. is shifting its commercial banking headquarters for the Carolinas back to Charlotte from downtown Charleston.
The move is tied to veteran banker Stan Gibson’s retirement after more than 43 years in the industry.
Gibson, who had been based at 177 Meeting St., was recently succeeded by Suzanne Morrison. She will oversee the two-state business lending arm from the Queen City.
Morrison has 22 years of industry experience, starting with Wachovia Bank, which Wells Fargo bought in 2008. Before her latest promotion, she was regional vice president for commercial banking for Wells Fargo’s Charlotte west region.
“This marks a return to Charlotte for the home base for the Carolinas division of commercial banking, which was most recently located in Charleston ..., where Gibson was based,” the bank said in a written statement.
Gibson moved the division’s head office to 177 Meeting St. in 2014.
Earlier this year, Wells Fargo also relocated its regional commercial banking hub for eastern South Carolina to Charleston. Formerly in Columbia, that office is responsible for the area between the coast and Interstate 95, from the Grand Strand to the Georgia line.
Gibson was with San Francisco-based Wells Fargo and Wachovia since 2004. Before that, he was Bank of America’s South Carolina market president. His retirement took effect Wednesday.
Gibson said he has no short-term plans other than to spend more time with his wife at their North Carolina mountain home and with their three young grandchildren “before they become teenagers.” He also will remain involved with several nonprofit groups as a board member, including the Medical University of South Carolina’s Hollings Cancer Center and the Roper St. Francis Hospital Foundation.
“One of the great things is the idea of having some of your personal calendar given back to you,” Gibson said Wednesday.
The relocation of the Carolinas division’s headquarters to Charlotte will be transparent to customers, said Thomas Anderson Jr., senior vice president in the Charleston office.
“We pride ourselves in customer relationships and their financial success regardless of where division leaders are based,” Anderson said in a statement. “Wells Fargo remains committed to the Lowcountry, where we continue to grow.”
The Carolinas commercial banking unit at Wells Fargo targets middle-market businesses with annual revenue of at least $20 million. Its other regional offices in the Carolinas are in Charlotte, Columbia, Greenville, Greensboro and Raleigh. The division also operates smaller satellite locations in Chapel Hill, Asheville and Hickory.
Contact John McDermott at 937-5572.