NEW YORK, Feb. 25, 2013 – Chase announced today that veteran banker Steve Walker has been named national head of Core Middle Market Banking, which serves companies with annual revenues between $20 million to $500 million. He previously ran Core Middle Market Banking in the Southeast and West regions.
The Middle Market Banking group represents nearly half of the firm’s Commercial Banking business and consists of two segments – Core Middle Market Banking and Government, Not-For-Profit and Healthcare (GNPH) banking. It serves more than 21,000 clients and contributed $3.3 billion to Commercial Banking’s total revenue of $6.8 billion last year.
In this newly created role, Walker will oversee 1,600 employees who serve mid-sized companies from 125 offices in 29 states, plus Washington, D.C. He will partner with Patrice DeCorrevont who manages GNPH banking.
“Since joining the firm, Steve has continuously proven his commitment to our local delivery model and played a critical role in building out our business in the Southeast and West expansion markets,” said Doug Petno, chief executive officer of Chase Commercial Banking. “His leadership and strong risk management skills will help position Middle Market Banking for success as we continue to grow.”
During the last several years, Chase has expanded its Middle Market Banking business into 22 new major metropolitan areas across 13 states, plus Washington, D.C. In addition, Chase grew its middle market loan balances for the 11th consecutive quarter to a record $50 billion, up 14 percent from the prior year.
A 36-year banking veteran, Walker spent the majority of his career with Chase and its predecessors. He joined predecessor Texas Commerce Bank in 1976 where he was a commercial banker and manager for 11 years. He went on to run Commercial National Bank in Louisiana as CEO for 11 years before rejoining Chase predecessor Bank One in 2000 as market president of northern Louisiana. Since then, he has held a number of management roles at Chase and helped build its Middle Market Banking business in the Southeast and West when the bank acquired Washington Mutual in 2008.
Chase Commercial Banking serves more than 23,000 clients in the U.S., including corporations, municipalities, financial institutions and not-for-profit organizations with annual revenue generally ranging from $20 million to $2 billion and 36,000 real estate investors and owners. The firm offers a comprehensive set of financial products and services, including credit, equipment finance, real estate finance, treasury services and provides clients with access to the investment services of J.P. Morgan.