Wells Fargo Equipment and Vendor Finance promoted two leaders to strengthen its executive team. Ben McCarrick has been appointed as head of equipment and vendor finance underwriting, while James Schulte was promoted to managing director and currently leads the market coverage originations team for equipment finance. The two executives will report to Wells Fargo’s head of equipment and vendor finance, Amrita Patel.
“Ben and James bring extensive finance experience, strong relationship-building skills, leadership abilities and a history of delivering outstanding results that benefit our team and clients,” Patel said. “They will play key roles in developing and expanding our capabilities and driving a better client experience as we deliver more digital solutions and simpler processes across the business.”
In his new position, McCarrick will transition from his current underwriter senior manager role, which he has held since 2016, to oversee and support a team of approximately 200 people focused on underwriting and originations across equipment and vendor finance. He replaces Steven Dorman, who is retiring in March after a successful 35-year career in financial services.
McCarrick, who is based in Irving, TX, brings more than 25 years of experience in financial services to his new position. He joined Wells Fargo in 2000 and has served in various roles in underwriting and originations supporting cash flow, asset-based financing, real estate and distressed asset portfolio management. He earned a bachelor of arts in accounting from the University of Connecticut.
Schulte is an industry veteran with more than 20 years of experience in equipment finance. As managing director, he will continue to work in close partnership with Wells Fargo’s commercial banking market coverage team to develop, support and lead strategic leasing and sales initiatives, assist in new client acquisition and deepen existing customer relationships across the country. He is based in St. Louis and will manage over 50 people nationally.
Prior to joining Wells Fargo, Schulte spent 13 years with GE Capital originating structured equipment finance leases and loans for middle market companies in Missouri and Illinois. He has been with Wells Fargo Equipment Finance since 2018, originally covering the Missouri, Kansas, Arkansas, Texas and Oklahoma markets as a territory manager, followed by covering the central region as a sales leader. He graduated from Marquette University with a bachelor of arts in finance and holds an MBA from Washington University’s Olin Business School.
