Wells Fargo Taps Nipul Patel as Head of Commercial Real Estate Banking
Wells Fargo‘s corporate and investment banking division has tapped Nipul Patel to lead real estate banking activities within its commercial real estate group, effective July 15, Commercial Observer has learned.
Patel, a 25-year veteran at Wells Fargo, will move away from his previous role as a senior credit officer within the real estate managed assets group to now oversee construction, acquisition, and permanent balance sheet lending operations across a variety of asset classes, such as office, multifamily, industrial, and mixed-use and retail properties, the bank said. At the end of 2020, Wells Fargo’s corporate and investment banking division had roughly $85 billion in commercial real estate loans on its balance sheet, according to its full-year 2020 financials.
Patel will be based out of Houston and will report to Kara McShane, the bank’s head of commercial real estate.
“I’m delighted to name Nipul as head of real estate banking for CRE. He brings strong industry relationships, expertise, and a proven track record,” McShane said. “Throughout his tenure at Wells Fargo, he has demonstrated his leadership through various senior positions in CRE. I am confident he will be a key asset as real estate banking continues to evolve in order to best meet our clients’ needs.”
Patel, who earned a bachelor’s degree in finance from Baylor University in Waco, Texas, currently sits on the board of Habitat for Humanity’s Houston chapter, and has spent time in a number of senior positions at Wells Fargo throughout his nearly 30 years at one of the country’s leading financial institutions, including stints within its real estate merchant banking and special situations divisions.
“I’m excited to return to the CRE Operating Committee and build upon the noted success the team has achieved over the years,” Patel said. “I’m looking forward to working closely with Kara as we chart the future for real estate banking.”
Prior to his role as senior credit officer of Wells Fargo’s real estate managed assets group, from 2018 to 2020, he was chief operating officer for the commercial real estate group, rising all the way up from the credit analyst program, where he began his tenure at Wells Fargo. As a credit analyst, he provided analysis on commercial, energy and private banking, as well as on commercial real estate.