30-year company veteran to head bank’s asset-based lending unit
Wells
Fargo & Company (NYSE: WFC) today announced that David Marks has
been named head of Wells
Fargo Capital Finance, the bank’s asset-based lending unit. In his
role, Marks will oversee the core business groups of Capital Finance,
which provides traditional asset-based lending, specialized junior and
senior secured financing, channel finance, factoring and financing for
domestic and international trade to companies in the U.S., Canada and
UK. He succeeds Guy Fuchs, who left the company in March. Marks will be
based in Santa Monica and reports to Ed Blakey, executive vice president
and head of Wells Fargo Commercial Capital.
“With his previous experience in our Wholesale Banking businesses, and
the insight and experience he has gained during his long tenure with the
company, David is uniquely positioned to lead the business for continued
growth in order to serve the commercial capital needs of our customers,”
said Blakey.
Wells Fargo Capital Finance is part of the Wells Fargo Commercial
Capital group, which combines Wells Fargo’s asset-based lending
businesses to create a streamlined approach for customers incorporating
their company’s assets into flexible financing solutions.
Marks joined Wells Fargo in 1987 and most recently served as a group
risk officer. He has led sales, service, and operations groups in many
of the company’s Wholesale Banking businesses. Marks’ diverse business
experience includes head of Corporate Banking, senior credit officer for
Corporate Banking and Government and Institutional Banking, regional
manager with Trade Capital, and head of the International Group.
About Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based
lending services, senior secured lending services, accounts receivable
and purchase order finance services, and channel finance services of
Wells Fargo & Company and its subsidiaries, and provides traditional
asset-based lending, specialized senior and junior secured financing,
accounts receivable financing, purchase order financing and channel
finance to companies across the United States and internationally.
Dedicated teams within Wells Fargo Capital Finance provide financing
solutions for companies in specific industries such as retail, software
publishing and high-technology, commercial finance, staffing, government
contracting and others. For more information, visit
wellsfargocapitalfinance.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Founded in 1852
and headquartered in San Francisco, Wells Fargo provides banking,
insurance, investments, mortgage, and consumer and commercial finance
through more than 8,600 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42 countries and
territories to support customers who conduct business in the global
economy. With approximately 269,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 27 on Fortune’s 2016 rankings of America’s largest
corporations. Wells Fargo’s vision is to satisfy our customers’
financial needs and help them succeed financially. News, insights and
perspectives from Wells Fargo are also available at Wells
Fargo Stories.
