Wells Fargo Announces Henry Jordan to Retire as Head of Capital Finance
October 24 2016 - 12:00PM
Business Wire
Wells Fargo Capital Finance to join
newly-formed Wells Fargo Commercial Capital group to be led by Ed
Blakey; Mark Myers to lead expanded commercial real estate
group
Wells Fargo & Company (NYSE: WFC), announced today that
Henry Jordan, the chairman and chief executive officer of Wells
Fargo Capital Finance, will retire on December 31, 2016. Following
Jordan’s retirement, Wells Fargo Capital Finance will join Wells
Fargo Commercial Capital, formerly known as Specialized Lending and
Investment (SLI), led by Executive Vice President Ed Blakey. Guy
Fuchs will become head of Wells Fargo Capital Finance and will
report to Blakey.
“Under Henry’s leadership, Wells Fargo Capital Finance has grown
to be one of the industry leaders in asset-based lending, factoring
and other specialized senior secured lending,” said Tim Sloan,
Wells Fargo’s president and chief executive officer. “Henry’s role
in the successful acquisition of GE Capital’s Commercial
Distribution Finance (CDF) business and Direct Lending portfolio
are the most recent examples of what has been a remarkable career.
Henry leaves a strong leadership team in place who will continue to
provide our customers with superb service and innovative financing
solutions.”
Wells Fargo Commercial Capital
The newly-formed Wells Fargo Commercial Capital group combines
Wells Fargo’s asset-based lending businesses to create a
streamlined approach for customers incorporating their company’s
assets into flexible financing solutions. In addition, Wells Fargo
Commercial Capital brings together the recently acquired GE Capital
CDF and Vendor Finance businesses and Direct Lending portfolio.
Wells Fargo Commercial Capital, with approximately $252 billion in
commitments as of 10/3/2016, includes Capital Finance, Equipment
Finance, Asset Backed Finance and Corporate Trust.
“I’m very excited to lead this newly formed group and bring
these successful businesses together,” said Blakey. “Capital
Finance has a strong management team in place and I look forward to
working with them to ensure we continue to provide outstanding
value to our customers, and look for ways to deepen those
relationships.”
Blakey, head of Wells Fargo Commercial Capital and a 32-year
veteran of Wells Fargo, reports to Perry Pelos, head of Wholesale
Banking, and has held a number of senior leadership positions in
commercial real estate, commercial mortgage-backed securities, and
permanent-debt lending. With a strong commitment to the community,
Blakey has served as a board member for the United Way of the Bay
Area and actively supports a number of community-oriented
organizations. He graduated from Columbia Christian College with a
bachelor’s degree in business administration.
Wells Fargo Commercial Real Estate
In addition to the formation of Wells Fargo Commercial Capital,
specialized commercial real estate businesses, under the former SLI
group, will move into the Commercial Real Estate (CRE) group led by
Executive Vice President Mark Myers. These businesses include
Multifamily Capital, Community Lending and Investment, and
Structured Real Estate, which is comprised of CMBS originations,
CMBS and CRE collateralized loan obligation securitization,
commercial mortgage servicing, asset management and commercial real
estate loan and security repo finance. Wells Fargo’s Commercial
Real Estate group is the largest in the industry - #1 domestically
in terms of annual originations¹, servicing, and market share - and
total commitments for the combined CRE businesses of approximately
$167 billion as of 10/3/2016.
“Combining these core commercial real estate businesses
simplifies and enhances the customer experience and allows our
commercial real estate platform to broaden its reach and deepen
customer relationships,” said Myers. “I look forward to leading
this newly-formed single Commercial Real Estate business as we
continue to grow our platform.”
Myers, a 34-year veteran of Wells Fargo who also reports to
Pelos, has held a number of senior leadership positions in the real
estate, corporate, capital markets and special situation groups. He
currently serves on the boards of trustees for the International
Council of Shopping Centers and the Urban Land Institute, is a
member of the Real Estate Roundtable, and is on the Policy Advisory
Board Executive Committee of the Fisher Center for Real Estate at
the University of California. Myers graduated with a bachelor’s
degree from the University of California Berkeley and a master’s of
business administration from the University of Oregon.
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.
¹ Based on 2015 U.S. commercial real estate originations, MBA
Commercial Real Estate/Multifamily Finance Firms, 12/31/15
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161024005868/en/
Wells Fargo & CompanyMediaTrisha Schultz,
314-875-3863Trisha.Schultz@wellsfargo.com@TrishSchultzWF
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Sep 2023 to Sep 2024