Wells Fargo announced on Wednesday that, after opening offices in Boston and Seattle, the company will expand its Technology Banking Division to include a new office in New York in the coming year.
“The rapidly expanding technology sector and the wealth around it are driving the country’s economic growth,” Eric Houser, the head of the company’s Technology Banking Division, which was established in 1999, said. “Wells Fargo’s focus is to serve clients from start-up to large corporation.”
Wells Fargo was an early-stage partner with Tesla Motors, the manufacturer of electric vehicles founded by PayPal’s Elon Musk. The company has also supported BrightSource Energy, which is in the process of constructing the largest solar plant in the world in the Mojave Desert.
The Technology Banking Division has four specialty departments, including Technology, Cleantech, Life Sciences and Venture Fund Services.
Wells Fargo began its expansion in 2006. Today, nine offices nationwide support the specialty groups in the U.S.