NJBIZ Conversations: Wells Fargo Executive Vice President Pete Dontas

Jeffrey Kanige//July 8, 2024//

Wells Fargo Executive Vice President Pete Dontas speaks with NJBIZ Editor Jeff Kanige on June 26, 2024.

Jeffrey Kanige//July 8, 2024//

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Pete Dontas leads commercial banking in New Jersey for Wells Fargo, a position he has held since the bank created it in 2015. Dontas has spent more than 40 years in the banking business and before joining Wells Fargo was the New Jersey market executive for commercial and middle-market banking with Bank of America. So he knows the state and its business community.

This edition of NJBIZ Conversations continues a series of mid-year assessments from leading executives around the state. Dontas talks about how 2024 has unfolded thus far and what businesses need to know about what’s coming in the second half.

“There have been no interest rate cuts. Everybody thought we’d have rate cuts by now,” Dontas said. “But it looks like we’re having a soft landing. We haven’t had any recession issues so far. So I would say, if we were sitting here six months ago, I would have been pleased to be where we are. I’m actually happy with where the economy is, where unemployment is, and where where growth is through the middle of the year.”