John Manning, executive vice president and ​head of commercial banking market coverage at Wells Fargo, is set to retire at the end of 2026.

The bank confirmed that Manning would be stepping down from the role, in which he has overseen Wells Fargo’s $200 billion commercial banking market coverage portfolio.

Manning has worked at Wells Fargo for 32 years and has more than 40 years’ experience in the financial services sector.

Rob Biodrowski, a Chicago-based senior leader at Wells Fargo currently serving as head of its Midwest division, will take over from Manning as head of commercial banking market coverage in November.

The role involves working with companies with annual revenue between $25 million and $2 billion, Wells Fargo said, and directly leading more than 2,000 bankers.

Biodrowski has worked at Wells Fargo for just over five years, joining from Citi where he worked as a managing director. This is his second stretch at Wells Fargo, having previously worked at Wells Fargo Securities for more than 19 years.

Wells Fargo is targeting a broad build-out of its investment banking business. At an investor conference held on 15 September, the firm’s chief financial officer Mike Santomassimo said that Wells Fargo aims to cover sub-sectors within the technology, media and telecommunications industry as well as healthcare, as reported by Reuters.

Santomassimo added that the bank may pursue technology acquisitions, despite a “high bar” for any activity.

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