Wells Fargo has reshuffled its senior European team, elevating Michael Acratopulo to senior credit officer.
Acratopulo will now have final sign-off on deals in Europe and replaces the retiring Scott Bottles, who was transferred from the US to London when Wells bought the Eurohypo business and its £2.7bn performing loan book in 2013.
Acratopulo, who joined Eurohypo in 2003 from Credit Lyonnais (now part of Credit Agricole), will continue to be part of the European leadership team alongside head of UK, Max Sinclair, and will be actively involved with clients.
Managing directors Stacey Flor and John Rubbert will take on the leadership responsibilities in the origination team relinquished by Acratopulo.
Wells is also looking to grow its 50-strong, London-based team, which currently within Europe only issues loans in the UK and Ireland.
It wrote around £2bn of new business in both 2016 and 2017 and is focusing on increasing its activity in particular in the PRS, student and Irish markets.
Earlier this month it contributed £100m to British Land’s new £735m revolving credit facility and issued a €90m (£79m) loan to Hines to refinance two Irish student accommodation assets.
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