Wells Fargo Equipment Finance Announces New Structure
As part of an initiative to expand service to its growing customer base, Wells Fargo Equipment Finance announced the reorganization of the management of the equipment finance units. The company said the new organization will improve customer access and strengthen cross-sell opportunities.
“Wells Fargo is committed to serving all of our customers’ equipment financing needs – whether they’re small business, middle market or large companies,” said John McQueen, executive vice president and head of Wells Fargo Equipment Finance. “With this new structure, Wells Fargo Equipment Finance is now better aligned to work with Wells Fargo’s banking groups providing customers with improved service and access to industry specialists and management expertise.”
Byron Payne will lead Commercial Banking, Corporate Banking, Corporate Aircraft, Wealth Management, Marine, Construction and the middle-market vendor business divisions. This group will work closely with Wells Fargo’s middle-market and large corporate banking business to serve the equipment financing needs of those customers. They will also design and service vendor financing programs for manufacturers, dealers and distributors of large-ticket equipment, and direct financing for construction infrastructure contractors, manufacturers and distributors of equipment.
Tom Petersen will lead the Business Banking, Transportation, Trailer and Healthcare divisions. These businesses provide dedicated equipment financing support to the health care segment and Wells Fargo Business Banking customers. The transportation line of business is focused on serving the unique needs of private and for-hire carriers, including managing Wells Fargo’s unique trailer leasing program.
Tim Reese will continue to manage the Manufacturer Dealer Finance business channel, with an emphasis on material handling, office and agriculture markets. This business provides efficient financing programs to manufacturers and dealers of small-ticket equipment.
Joe Fantauzzi will continue to manage the Wells Fargo Capital Markets Division.
