Wells Fargo hires HSBC dealmaker Free to lead commercial real estate in Europe

Wells Fargo has hired a senior HSBC dealmaker to lead a fresh expansion of its commercial real estate financing business in Europe.

Nicola Free, who has spent the past three years at the UK lender, will join Wells Fargo as head of commercial real estate in Europe, the Middle East and Africa on 1 March, according to an internal memo seen by Financial News.

“In her new role, Nicola will focus on expanding our CRE platform in Emea to enhance our capital markets capabilities while further deepening our balance sheet presence to in-region and US-based clients,” the memo from Nipul Patel, head of real estate banking, and Rob Ritchie, international head of banking and capital markets, said.

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Free has worked at AIG, GE Real Estate and Bank of America over a 20-year career in the City. She was latterly head of real estate finance for Emea at HSBC.

The commercial real estate team is a “critical component of the [corporate and investment bank] strategic plan”, the Wells Fargo memo said.

Wells Fargo has been gradually beefing up its operations outside of the US, where it still books most of its investment banking revenue. Charlotte Weir, who was head of corporate debt capital markets for Emea at Barclays, left the UK lender in November after 20 years to head up Wells Fargo’s European corporate bank.

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Wells Fargo also hired James Marriott from NatWest for its DCM team and Rahul Rajesh to lead its coverage of financial institutions in Emea last year.

Free is an advocate for diversity in the banking sector, the memo announcing her appointment said.

“Throughout her career, she has led various talent management initiatives to support gender balance and social mobility,” according to the memo.

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To contact the author of this story with feedback or news, email Paul Clarke