Wells Fargo & Company has introduced a new global banking division to support the financing needs of US companies engaged in international business and work with overseas based multinationals operating in the US.

Part of Wells Fargo’s International Group, the global banking division has opened five new sales offices on the east coast of the US. With new offices in New York, Philadelphia, Charlotte, Atlanta and Miami, the business has a total 14 sales offices throughout the US along with overseas offices in London, Hong Kong and Dublin.

According to Wells Fargo, working closely with its network of more than 30 overseas locations, these offices will deliver a wide array of commercial services for banks and corporate customers.

Led by 21-year company veteran Sanjiv Sanghvi, the new division will provide middle market and large US and foreign owned companies with cross-border financing, working capital, risk and treasury management, and trade finance services.

Mr Sanghvi said: “At Wells Fargo, we want to serve all of our customers’ financial needs – both domestic and international. After merging with Wachovia and taking full ownership of the Wells Fargo HSBC Trade Bank, we’re able to distribute our broad set of international services through an expanded global network. Wells Fargo Global Banking has the infrastructure and expertise to provide our customers with increased access to cross-border banking services, including lending and treasury management services.”