Wells Fargo exec in Mount P. now oversees Carolinas


A Mount Pleasant resident who was Wells Fargo's top South Carolina bank executive has taken the reins for the two-state Carolinas market.

Rick Redden succeeded industry veteran Stan Kelly, who retired this month.

Redden's new title is regional president in the Carolinas, the company said.

He said Monday he will be based in Charlotte and commute from Mount Pleasant, where his family will remain for at least the next few years. He also is keeping his office in Charleston, saying he plans to spend at least one day a week at the downtown location.

"Right now, I'm working to get reacquainted with or acquainted with, in some cases, our North Carolina leaders and our North Carolina markets," Redden said.

Redden moved to the Lowcountry as a teenager. A graduate from Wando High School, he has a bachelor's degree in business from Appalachian State University and a master's degree in business administration from Georgia Tech.

He joined Wachovia Bank in 1993 as a corporate banker in Winston-Salem.

He returned to Charleston in 1996 and has steadily risen through the ranks after taking on a variety of roles, such as senior relationship manager, coastal corporate banking manager, commercial banking manager and chief risk officer for South Carolina.

He was named South Carolina market president in 2007 and remained in that job after Wells Fargo bought Wachovia at the height of the financial crisis the following year. He helped oversee the transition to the San Francisco-based bank's brand in 2011.

Redden said it's "a great time to be coming into" an expanded management role at Wells Fargo, which is the largest in South Carolina based on deposits and third largest in North Carolina.

"We've had great momentum," he said. "We've had the benefit of the last five-and-a-half years since Wells acquired us of adding team members and investing in the franchise. It's been a fairly simple formula: Find and hire talented people and get them out to the communities, close to customers, and good things happen."

Well Fargo & Co.'s Carolinas territory includes 200 specialty offices, about 460 retail branches and more than 1,050 automated teller machines.

"A lot of different ways to go to customers in the two states," he said.

Also, the bank said it has about 34,000 employees in the region.

"One way to think about that is ... roughly 1 out of every 200 working Carolinians is part of Wells Fargo," said Redden, the immediate past chairman of the S.C. Bankers Association.

The search is on for a successor to assume his previous job overseeing the Palmetto State.

"We're going to fill that role," he said.

Redden reports to Laura Schulte, the bank's eastern regional banking executive.

"Rick is an exceptional leader both inside Wells Fargo and in his community," she said in a written statement. "He brings a passion for building strong teams and communities and for putting his customers at the forefront of all he does."

Contact John McDermott at 937-5572.