MINNEAPOLIS, April 26, 2016 – Wells Fargo Equipment Finance, a subsidiary of Wells Fargo & Company (NYSE: WFC), announced today the appointment of 30-year industry veteran Jim Kelly to lead the new Wells Fargo Vendor Financial Services group, which includes the combined GE and Wells Fargo vendor platforms. Based in Irving, Texas, Jim will report to Bill Mayer, head of Wells Fargo Equipment Finance, and lead a team of approximately 1,1oo team members across the U.S.
“Jim is a proven industry leader with the diverse set of skills necessary to lead our vendor business,” said Mayer. “I’m confident that he will advance our position as a leader in vendor financing and continue to provide the highest possible service to our customers while improving efficiencies.”
Prior to joining Wells Fargo, Jim was the president of GE Capital’s Vendor Finance business, where he was responsible for attracting and winning new relationships as well as managing and growing finance programs with thousands of manufacturers and dealers across multiple industries.
The Wells Fargo Vendor Financial Services group works with manufacturers, dealers and distributors to help them manage their equipment inventory, enhance sales opportunities and serve their customers through a full range of financing programs designed for their specific business needs. The combined Vendor Financial Services group has a portfolio of approximately $13 billion in assets under management.
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 nationwide as well as floor planning and inventory financing, and vendor programs in selected industries 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 and has 2,250 team members serving customers. Wells Fargo Equipment Finance is the trade name of the equipment finance businesses of Wells Fargo Bank, N.A. and its subsidiaries. Canadian business is transacted by Wells Fargo Equipment Finance Company.
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.
