Wells Fargo names new head of commercial mortgage servicing

Wells Fargo on Monday named a Fannie Mae executive and former Wachovia director as its new head for commercial mortgage servicing.

Alan Kronovet will be based in Charlotte, like his predecessor, Jose Becquer, who died in April.

Kronovet will oversee roughly 800 employees in Charlotte, the San Francisco Bay area, New York and India, the bank said.

A former managing director for Wachovia Securities, Kronovet went to work for mortgage-finance behemoth Fannie Mae, where he served as head of multifamily mortgage operations.

He is expected to start working for Wells Fargo in the middle of August.

He could not be immediately reached for comment.