The $2.1 trillion bank taps the former Alliant Credit Union chief to oversee services for companies with up to $25 million in annual sales.

Wells Fargo, the fourth-largest bank in the United States by assets, has named Dennis Devine as its new head of business banking, the company announced this week.

The San Francisco-based lender, which reports approximately $2.1 trillion in consolidated assets, ranks behind JPMorgan Chase, Bank of America and Citigroup in size. Devine’s appointment comes as large financial institutions continue to compete aggressively for small-business customers, a segment viewed as critical to growth and cross-selling opportunities.

In his new role, effective immediately, Devine will lead the division serving business owners with annual sales of up to $25 million. He will report to Kleber Santos, co-chief executive of consumer banking and lending, and will be based in Charlotte, N.C.

“Dennis brings to Wells Fargo more than 20 years of financial services experience and a deep understanding of how to meet the needs of business banking customers,” Santos said in a statement. “We look forward to him joining our team and leading our work to further strengthen how we support and build our relationships with our business customers.”

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Devine most recently served as president and chief executive of Alliant Credit Union, one of the nation’s 10 largest credit unions, with $20.3 billion in assets and more than 923,000 members. Before that, he led consumer and business banking at KeyBank, overseeing retail banking, business banking, wealth management, home lending and auto finance. His career has also included leadership roles at Citizens Financial Group, PNC and National City.

“Business banking fulfills an essential role to the success of businesses in every U.S. community, and Wells Fargo is uniquely positioned to support business owners across the country with its scale, experience and full array of financial products and services,” Devine said. “I’m looking forward to joining a team that has a solid foundation and is prepared to drive even greater value for business customers in our communities.”

Devine’s departure from Alliant set off a leadership transition at the Chicago-based credit union. In June, Alliant named Mike Dobbins as chief executive, replacing interim chief executive Ken Schaafsma, who continues as chief risk officer. Schaafsma had stepped in after Devine left the organization.

Alliant has reported improved financial results, earning $111.4 million in 2025 compared with $81.7 million in 2024, according to NCUA call report data.

For Wells Fargo, the addition of Devine signals a continued focus on strengthening its business banking franchise, particularly among small and midsize enterprises, as large banks seek deeper relationships in a competitive market.

“Business banking fulfills an essential role to the success of businesses in every U.S. community, and Wells Fargo is uniquely positioned to support business owners across the country with its scale, experience and full array of financial products and services.”

– Dennis Devine
New Head of Business Banking
Wells Fargo