Wells Fargo Names Canada Leaders for Equipment Finance and Commercial Distribution Finance
May 18 2016 - 9:00AM
Business Wire
Former GE Capital veterans to lead key
businesses in Canada
Wells Fargo & Company (NYSE:WFC) has named leaders for its
Equipment Finance and Commercial Distribution Finance (CDF) Canada
divisions following the completed acquisition of GE Capital’s
Direct, Vendor and CDF businesses earlier this year. Continuing to
deliver the suite of products and services offered in Canada and
the U.S, Peter Ringler will lead Equipment Finance and Tim Nixon
will lead CDF.
“Peter and Tim represent the talent and expertise of the great
team members, products and services we gained through our recent
acquisition of GE Capital’s businesses,” said Tim Sloan, Wells
Fargo’s president, chief operating officer and head of Wholesale
Banking. “As we continue to strengthen our capabilities and
presence in Canada, we are better able to provide our customers
with the financial resources and support they need to be
successful.”
Peter Ringler, a Canadian with 25 years of industry experience,
is responsible for delivering direct and vendor programs to a wide
range of industries in Canada, including transportation,
construction, manufacturing, energy and mining, office imaging and
technology for Wells Fargo Equipment Finance Company. Based in
Ontario, he leads a team of more than 250 team members serving
20,000+ customers across Canada. Prior to joining Wells Fargo,
Peter spent 20 years with GE Capital, most recently serving as
Chief Commercial Officer for Canada, where he led the equipment
finance and lending teams. He has been a board member of the
Canadian Leasing and Finance Association since 2013.
Tim Nixon, a 20-year industry veteran and an Ontario native,
leads a team of 180 team members who provide inventory financing to
more than 4,000 dealers across Canada. CDF, a financier to Canadian
companies for nearly 50 years, serves 20 specialized industries,
including motorsports, lawn and garden, marine, recreational
vehicles, agriculture, electronics and appliances. Prior to joining
Wells Fargo, Tim spent 20 years with GE and GE Capital in a number
of leadership roles in sales, quality and operations, most recently
serving as Senior Operations Leader for Canada where he implemented
several customer experience improvement projects while executing on
a variety of productivity and governance initiatives. He holds a
Bachelor of Economics degree from the University of Western Ontario
and an MBA from McMaster University.
About Wells Fargo Commercial Distribution Finance
Commercial Distribution Finance (CDF) provided $47 billion in
financing for more than 40,000 dealers and more than 2,000
distributors and manufacturers globally in 2015. CDF provides
inventory financing solutions, service and intelligence through
in-depth industry expertise and commitment. Programs include
inventory and accounts receivable financing, asset-based lending,
private label financing, collateral management, and related
financial products. On March 1, 2016, Wells Fargo acquired the
North American business of CDF from GE Capital. The sale will be
completed as a phased approach with the remainder of the business
closing globally in 2016. For more information, visit
wellsfargo.com/cdf or follow company news via Twitter
@WellsFargoCDF.
About Wells Fargo Equipment Finance
Wells Fargo Equipment Finance provides competitive fixed- and
floating-rate loans and leases covering a full range of commercial
equipment for businesses in the United States and Canada. Wells
Fargo Equipment Finance is a leading bank affiliated equipment
leasing and finance business in North America by asset portfolio
and annual originations, with more 2,250 team members. Canadian
business is transacted by Wells Fargo Equipment Finance Company and
serves more than 20,000 customers and has a portfolio of
approximately $3.5 billion Canadian dollars in assets under
management.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.8 trillion in
assets. Founded in 1852 and headquartered in San Francisco, Wells
Fargo provides banking, insurance, investments, mortgage, and
consumer and commercial finance through 8,800 locations, 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 36 countries 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. 30 on Fortune’s 2015
rankings of America’s largest corporations. Wells Fargo’s vision is
to satisfy our customers’ financial needs and help them succeed
financially. Wells Fargo perspectives are also available at Wells
Fargo Blogs and Wells Fargo Stories.
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Wells Fargo & CompanyTrisha Schultz,
314-875-3863Trisha.Schultz@wellsfargo.com
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