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Wells Fargo CFO: ‘Things Are Going To Continue To Get Worse’ in Some Big Office Markets

Leader of Financial Giant Points To Slow US Leasing, Uneven Recovery Across Sector

“In commercial real estate, there’s certainly a lot of potential stress in the office market," Wells Fargo Chief Financial Officer Mike Santomassimo said this week. (Wells Fargo)
“In commercial real estate, there’s certainly a lot of potential stress in the office market," Wells Fargo Chief Financial Officer Mike Santomassimo said this week. (Wells Fargo)

The chief financial officer of banking giant Wells Fargo said conditions will deteriorate in some major U.S. office markets before they get better.

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