Wells Fargo has announced that its co-head of its award-winning renewables tax equity team, Barry Neal, is retiring. Meanwhile, another senior member of the group has left for a job at a developer.
Neal, who has worked in energy finance for 37 years, will hang up his spurs on July 1. He joined Wells in 2005 and helped set up its San Francisco-based tax equity team, which the bank refers to as renewable energy and environmental finance (PFR, 6/30/06).
Since then, the bank has funded more than $7.5 billion across 400 wind and solar projects throughout the U.S. This year, the firm was named Bank Sector Tax Equity Investor of the Year in PFR’s Annual Deals & Firms of the Year awards (PFR, 4/29).
Philip Hopkins will become the group's sole head on Neal's departure, having previously overseen the team jointly with him.
Meanwhile, Monica Opderbeck, who was a director in the tax equity unit until last month, is settling in at Pattern Energy, according to her LinkedIn profile.
She had been with Wells since 2007 and in the bank's 30-strong renewables tax equity division since 2011. She joins Pattern as senior director, finance. Spokespeople for Pattern in New York did not respond to an inquiry about Opderbeck’s start date and reporting structure.