Wells Fargo Realigns Commercial Capital Loan Originations Teams in Canada

MONTREAL – Wells Fargo Commercial Capital announced today the realignment of its Canada-based Equipment Finance and Asset-Based Lending (ABL) originations teams into a newly integrated business unit, harnessing the collective expertise to enhance the customer experience. Nicolas Lessard now heads the combined team, which expands his previous role leading Wells Fargo Equipment Finance’s manufacturing group in Canada.

Realigning in the integrated loan originations structure are:

• Pierre-Yves Morisset, managing director, Western Region and Corporate ABL in Ontario
• Lee Leblanc, senior vice president, Quebec and Maritimes
• Mohammed Badruddin, vice president, Ontario

“As we celebrate 25 years of providing ABL financing to customers in Canada, we recognize an opportunity to bring together our ABL originations team and Equipment Finance territory managers operating in similar industry segments,” Lessard said. “Joining the skills and capabilities of these groups will help produce benefits for our customers and the organization, allowing us to deliver the right products and services for our customer needs, quickly and efficiently.”

Wells Fargo is a leader in asset-based financing, offering agented and syndicated senior secured financing to middle-market companies and large corporations within the U.S., Canada, and the U.K. The company provides financing alternatives for asset-rich companies looking to maximize their borrowing capacity. Wells Fargo also operates one of the largest bank-affiliated equipment leasing and finance businesses in the U.S. and Canada, providing equipment loans, leases, and customized financing services, plus inventory finance and syndication for many industries.

Lessard joined Wells Fargo Equipment Finance as part of the bank’s GE Capital acquisition in 2016. During his 20-year tenure, Lessard has led commercial teams in various regions and industries. He earned a bachelor’s degree and an MBA in finance at Sherbrooke University, Quebec. Lessard also holds a Chartered Professional Accountant (CPA, CGA) designation. He is based in Montreal.

Based in Vancouver, British Columbia, Morisset previously worked with Wells Fargo Capital Finance for more than seven years, covering Western Canada and Ontario for large ABL customers.  Prior to Wells Fargo, Morisset was head of Corporate Accounts and Western Canada with Canadian Imperial Bank of Commerce’s ABL group. His career began more than 20 years ago at GE Capital in Montreal. Morisset holds a master’s degree in finance from Laval University, Quebec City.

Leblanc joined Wells Fargo Capital Finance’s ABL Originations team, as part of the bank’s 2016 GE Capital acquisition. At GE Capital, he worked with the Corporate Finance group. Based in Montreal, Leblanc started his career at National Bank of Canada in 1999. Leblanc earned a bachelor’s degree from HEC Montreal, Quebec, and an MBA from Université du Québec à Montréal.

Based in Toronto, Badruddin joined Wells Fargo Capital Finance group in 2014, most recently serving as assistant vice president within the Originations Group. He previously spent four years in Royal Bank of Canada’s Commercial Banking Division in Toronto. He earned a master’s degree in international business from Smith School of Business, Queen’s University, and a bachelor’s degree in management from the University of Western Ontario. Badruddin also holds the Chartered Financial Analyst (CFA) designation.

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, investment and mortgage products and services, as well as consumer and commercial finance, through 7,500 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 32 countries and territories to support customers who conduct business in the global economy. With approximately 261,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2019 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Wells Fargo Equipment Finance is the trade name for certain equipment leasing and finance businesses of Wells Fargo Bank, N.A. and its subsidiaries. Equipment financing transactions are provided in Canada by Wells Fargo Equipment Finance Company.

Financement d’équipement Wells Fargo est le nom commercial utilisé par certaines des organisations et filiales de Wells Fargo Bank, N.A. qui offrent des solutions de crédit-bail et de financement d’équipement. Les opérations de financement d’équipement sont fournies au Canada par Société de financement d’équipement Wells Fargo.

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.

Financement Wells Fargo Capital est la dénomination commerciale de certains services en matière de financement reposant sur l’actif, ainsi que de certains services de rang supérieur garanti, de comptes clients, de bons de commande et de réseaux de financement offerts par la Wells Fargo & Company et ses filiales.