David Marks named to lead Wells Fargo Commercial Capital
Wells Fargo & Company (NYSE:WFC) announced today that
Executive Vice President Ed Blakey will retire as head of its Commercial
Capital business, part of the company’s Wholesale Banking group.
“Throughout his 34 years at Wells Fargo, Ed has played an important role
in some of Wholesale’s most significant business transitions,” said
Perry Pelos, head of Wells Fargo Wholesale Banking. “From the company’s
merger with Wachovia to the acquisition of select businesses from GE
Capital, Ed demonstrated exceptional leadership and commitment to our
team members, customers and stakeholders. We are very grateful for his
leadership and countless contributions to our business and company.”
As head of Commercial Capital, Blakey oversaw the company’s Asset-Backed
Finance & Securitization (ABF), Capital Finance, Commercial Distribution
Finance, Corporate Trust Services, and Equipment Finance divisions.
Wells Fargo also announced that David Marks, who has been with the
company for 31 years and is currently head of Wells
Fargo Capital Finance, will succeed Blakey as head of Commercial
Capital starting June 30, 2018. In addition, ABF, which dual-reported
into Commercial Capital and the Wells Fargo Securities business, will
continue to be led by Chris Pink, and going forward, will solely report
into the Wells Fargo Securities business under Mary Katherine DuBose,
managing director and head of Debt Capital Markets. Blakey will remain
in his current role through the transition.
Blakey began his career at Wells Fargo in Commercial Real Estate
including a five-year assignment in Chicago managing the Midwest region.
After significantly growing Wells Fargo’s Midwest Commercial Real Estate
business, Blakey established and grew the company’s Commercial Mortgage
businesses, including Commercial Mortgage-Backed Securities, Multifamily
Capital, Commercial Mortgage Servicing, and Community Lending &
Investment. Under his leadership, each business grew to become
industry-leading platforms.
“I am extremely grateful for the career I’ve had at Wells Fargo and the
opportunity to work alongside some of the most talented in the industry
and meet the great customers we serve,” said Blakey. “I’m heading into
retirement with excitement and confidence as I believe the company and
our leaders will continue to help Wells Fargo become a better bank for
team members, customers and stakeholders.”
DuBose joined Wells Fargo in 1998 and has more than 20 years of
investment banking experience. She started her Wells Fargo career by
forming the Business & Commercial Loan Securitization team. From there
led Corporate Debt Finance, Subscription Finance and Corporate Net Lease
groups. DuBose then went on to co-head Asset-Backed Finance &
Securitization. In her current role, she leads teams responsible for
high-grade debt, high-yield debt and loans syndications originations and
executions.
Marks, since joining the company in 1987, has held various senior
leadership roles in commercial and corporate banking, trade finance and
credit risk management. Prior to leading Capital Finance to be the #1
Bookrunner of asset-based loans in the U.S. in 2017, he was the group
risk officer for Wells Fargo’s Consumer Lending and Payments, Virtual
Solutions and Innovation businesses. Marks also serves on the Wells
Fargo Management Committee.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investments, mortgage, and consumer and
commercial finance through 8,200 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 265,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 25 on Fortune’s 2017 rankings of America’s largest
corporations. News, insights and perspectives from Wells Fargo are also
available at Wells Fargo Stories.