Driven by continuous growth in the U.S. tech sector, including an increase in IT spending, AI investments, and a renewed focus on innovation,1 Wells Fargo Technology Banking expanded its team of bankers by 20% over the past year, with additional hires expected in 2025. This represents the largest investment in talent Wells Fargo has made in the tech banking group since the team formed 25 years ago.
Wells Fargo Technology Banking serves technology companies across the U.S., in key hubs including Austin, Boston, Chicago, Denver, Los Angeles, New York City, Phoenix, San Francisco Bay Area, and Utah, and are backed by a national network of commercial banking partners in every state. Focus areas include Software, Fintech, E-commerce, Semiconductor, Business & Technology Services, and Sustainable Tech, spanning early, growth and mature stage companies.
“While most banks have viable products, the leading banks have dedicated, resourceful relationship managers. They are the heartbeat of our organization, driven to work with clients to build and expedite growth,” said Tom Harper, Wells Fargo Technology Banking Division Executive. “I am excited to see our team expand to support tech innovators across the country, and we will remain focused on hiring the best talent,” he added.
The Technology Banking team includes three market executives reporting to Harper. Dzung Nguyen, based in New York City, leads the East Coast practice, and joined Wells Fargo from Bank of America in fall 2024. Located in Denver, Matt Servatius spearheads the group’s Central practice, covering states across the Midwest through Mountain and Texas geographies. Jim Bryski runs the West Coast from the Bay Area office, which launched in the early 2000s to support startups in Silicon Valley. All three have added new relationship managers as part of the expansion, bringing the team to more than 60 bankers.
Technology Banking is part of Wells Fargo Commercial Banking’s Specialized Industries group, led by Mary Katherine DuBose. In addition to Technology Banking, DuBose oversees the bank’s specialized teams covering clients in the Beverage, Commercial Auto, Commodity, Financial Sponsors, Food & Agribusiness, Franchise, Gaming, Government, Healthcare, Higher Education and Not for Profit, and Sports sectors.
“Technology Banking is a priority sector for Wells Fargo. Our specialized team has deep industry expertise and a commitment to building long-term relationships and delivering sound and strategic solutions to help companies scale and succeed,” said DuBose. “We are excited to continue strengthening our team with new talent that helps us bring Wells Fargo’s full capabilities to clients to accelerate their growth,” she added.
The Technology Banking team recently commissioned research to better understand the top concerns of the venture funding ecosystems in New York City and Boston and will release a Tech Sentiment study later this spring revealing what’s on the minds of tech founders and innovators heading into the rest of the year.
