New Senior Leadership Position Supports Growth in Asset-Based Lending
Wells Fargo & Company (NYSE:WFC) today announced that Guy Fuchs has been
appointed president and chief operating officer of Wells Fargo Capital
Finance, the bank’s asset-based
lending unit, effective immediately. Fuchs, a 14-year veteran of the
firm, will continue to report to Henry Jordan, chairman and chief
executive officer of Wells Fargo Capital Finance. In his new role, Fuchs
will oversee the three core business groups of Capital Finance and the
shared service teams that are critical to those groups’ operations.
“By appointing Guy to this newly created role, we’ve created a framework
for continuous, consistent leadership that will support our
organization’s long-term growth,” said Jordan. “We saw double-digit
growth in loans outstanding in 2014, and our factoring volume puts us
among the largest bank-owned factors in the world. I’m confident that
Guy’s extensive knowledge, leadership and industry experience will
enhance our efforts for continued growth in helping our customers
succeed financially.”
Fuchs, with 25 years of industry experience, joined Wells Fargo in 2001
and most recently served as executive vice president and the head of the
Corporate Finance group at Wells Fargo Capital Finance. Prior to joining
Wells Fargo, he held various leadership roles at GE Capital and CIT
Group. Fuchs earned a bachelor’s degree in accounting from Indiana
University, and was a certified public accountant before entering the
asset-based lending industry.
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 nationwide, diversified,
community-based financial services company with $1.7 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 8,700 locations, 12,500 ATMs, and the internet
(wellsfargo.com), and has offices in 36 countries to support customers
who conduct business in the global economy. With approximately 266,000
team members, Wells Fargo serves one in three households in the United
States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014
rankings of America’s largest corporations. Wells Fargo’s vision is to
satisfy all our customers’ financial needs and help them succeed
financially. Wells Fargo perspectives are also available at Wells
Fargo Blogs and Wells
Fargo Stories.