June 06, 2008 16:15 ET

Wells Fargo Names Cynthia Shafer Regional Business Development Officer

CHICAGO, IL--(Marketwire - June 6, 2008) - Wells Fargo Insurance Services, Inc. is pleased to announce that Cynthia Shafer has joined its National Cross-Sell Practice Group as Midwest regional business development officer. She will be based at the company's headquarters in Chicago.

To respond to Wells Fargo banking customers' and prospects' growing interest in risk management, business insurance, employee benefits, and personal insurance services, Shafer will be responsible for managing business development and cross-selling initiatives between Wells Fargo Bank business units and Wells Fargo Insurance Services. She will develop goals, objectives and sales strategies for the cross-selling efforts of all regional business units and team members.

"Cynthia is a dynamic, results-oriented leader with over 25 years of experience in the insurance brokerage industry and a strong track record of performance," said Mark Pinkowski, managing director, national practice leader for cross-sell for Wells Fargo Insurance Services. "We look forward to working with Cynthia, as she focuses on creating sales and marketing synergies between the Wells Fargo Insurance Services Midwest region and Wells Fargo's other commercial enterprises in Illinois, Indiana, Iowa, Michigan, Ohio, Missouri, and Kansas."

"Cynthia Shafer brings a wealth of experience in sales and marketing leadership, as well as the development of innovative products and services, which will be of great benefit to our customers and partners," said Dan Goldapp, Midwest regional managing director of Wells Fargo Insurance Services. "Also, as an active member of a number of civic and professional organizations, Cynthia very well represents Wells Fargo's commitment to strengthening the communities in which we do business."

Prior to joining Wells Fargo Insurance Services, Shafer was vice president for Maximum Independent Brokerage where she lead the casualty department, helping to strengthen new and existing customer relationships by developing and offering unique and innovative risk management solutions. Before joining Maximum, she held sales and leadership positions at several other insurance brokerage firms.

Shafer received her bachelor's degree from Hollins University, Roanoke, Va. and completed the executive education program at the University of Virginia.

Wells Fargo Insurance Services, Inc. is the fifth-largest insurance brokerage and the largest bank-owned insurance brokerage in the United States, with more than 170 offices in 37 states. Its 5,200 insurance professionals place more than $11.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. For more information about Wells Fargo Insurance Services, visit www.wellsfargo.com/wfis.

Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."