Kara McShane is the head of Wells Fargo's commercial real estate business, an integrated platform serving commercial real estate owners, investors, developers and operators across the U.S., Canada, Ireland and the U.K. Under McShane's stewardship, Wells Fargo continues to command a substantial market share, holding down the top positions in almost all CRE capital markets industry rankings as it maintains an unbroken 14-year streak as the #1 CRE lender in the United States.
McShane's sphere of influence at Wells Fargo extends far beyond corporate and investment banking's CRE division, where she leads more than 2,000 employees globally. She also serves on the Wells Fargo management committee, the employee benefits review committee and the CIB operating committee, and is an executive sponsor of the CIB diversity, equity and inclusion council.
Overseeing a global empire that boasts a $190 billion loan portfolio and a third-party servicing portfolio valued at approximately $721 billion, McShane has successfully navigated record-high inflation and the threat of a recession to seamlessly integrate Wells Fargo's CRE platform across all lending and capital markets products and services.
In the face of surging interest rates and a shrinking demand for commercial office space that devastated CRE investors, McShane swiftly adapted to the rapidly evolving landscape, maintaining close connections with clients, optimizing capital deployment and fine-tuning portfolio composition to drive impressive gains, with loan portfolio growth eventually outpacing the previous year by 20%.
McShane remains a dynamic force within the communities where her organization operates. Through her advisory roles with the Real Estate Roundtable, REBNY's board of governors and the Harvard Joint Center for Housing Studies, she lends her unique expertise and insight to help shape industry policies that foster inclusive growth. Additionally, she sits on the board of Breaking Ground — a leading NYC nonprofit for supportive and affordable housing that assists over 10,000 vulnerable New Yorkers annually, and was named as a gala chair when the organization celebrated 32 years of service to New York City last year. Through direct community outreach at the "street level," more than 4,500 people sleep under a Breaking Ground roof every night where they are given the opportunity to transition into long-term supportive accommodations.
Dedicated to championing diversity, equity and inclusion, McShane leads by example. Under her guidance, the CRE operating committee now has more than 60% gender and racially diverse members (15 of 24), the result of focused talent reviews, sponsorship and executive development programs. Notably, her direct leadership team is now bolstered by 50% diverse members (5 of 10), up from a prior 36%.
To further foster a dynamic and inclusive workforce, McShane's team collaborates with Project Destined, which helps minority college students prepare for careers in the commercial real estate space, and actively engages with historically Black colleges and universities and Hispanic-serving institutions to recruit talent.
