Wells Fargo Related Content

Reuters: Wells Fargo to Face Litigation on Defective Mortgages

Reuters reported Wells Fargo must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky RB securities. read more

BMO Harris Agents Rush Enterprises’ $100MM Revolver

Rush Enterprises entered into a $100 million revolver credit agreement with a group of banks led by BMO Harris serving as administrative agent. read more

Wells Fargo Promotes Friesth to Central Division Manager

Wells Fargo promoted veteran commercial banker Grant Friesth to head the Central Division for Middle Market Banking. read more

Wells Agents Revolver for Popeyes Before Sale to Burger King

On February 15, Popeyes Louisiana Kitchen amended its credit agreement with Wells Fargo as administrative agent, providing a $150 million revolver expansion. On February 21, Restaurant Brands International, the parent company of Burger King, purchased Popeyes for $1.8 billion. read more

Wells Fargo Terminates Four Execs Based on Investigation

Wells Fargo terminated four current or former senior managers based on its board of directors’ ongoing independent investigation into the company’s retail banking sales practices and related matters. read more

Wells Fargo Names Two New Independent Directors

The board of directors of Wells Fargo elected Karen B. Peetz, retired president of The Bank of New York Mellon, and Ronald L. Sargent, retired chairman and CEO of Staples, as new independent directors. read more

Ares Agents ABL Revolver Upsize for OnDeck Asset Funding

OnDeck Funding, a subsidiary of OnDeck Capital, amended its existing ABL revolver that provides for an increase in lenders’ commitment from $100 million to $150 million. Ares Agent Services served as administrative agent. read more

Macquarie Agents $200MM Bristow Facility

Bristow U.S., a subsidiary of Bristow Group, entered into a $200 million term loan credit agreement with Macquarie Bank as administrative agent and security agent. read more

Wells Fargo Names Amin Regional President for Asia Pacific

Wells Fargo named Jafar Amin regional president for its Asia Pacific region, succeeding Jim Johnston who served as interim regional president. Amin is also now head of Global Financial Institutions for the region. read more

Wells Fargo Announces New Structure for International Business

Seeking to better align its international banking services with the customers they serve, Wells Fargo announced its International Group will be integrated into other Wholesale Banking business lines. read more

Wells Fargo Names Richard Yorke COO of Wholesale Banking

Richard Yorke, who previously headed the International Group, was named chief operating officer of Wells Fargo Wholesale Banking, reporting to Perry Pelos, senior executive vice president and head of Wholesale Banking. read more

Wells Fargo FY Interest Income on Lease Financing Balances up 59%

Wells Fargo interest income on lease financing average balances of $17.95 billion was $916 million in 2016, up 59% from $577 million on average balances of $12.30 billion a year earlier. read more

Regulators Reject Wells Fargo ‘Living Will’ Plan, Impose Restrictions

The FDIC and Federal Reserve rejected Wells Fargo’s latest “living will” plan and, as a result, has placed restrictions on bank’s ability to grow its international and non-bank activities. read more

Venture Bank Provides $11MM Facility for Famous Dave’s

Famous Dave's signed a new $11 million credit line with Venture Bank. The new loan was used to pay off the company’s $9.9 million loan with Wells Fargo. read more

Wells Fargo Amends By-Laws to Require Separation of Chairman and CEO

Wells Fargo’s board of directors amended the company’s by-laws to require the separation of the chairman and CEO roles and for the chairman and vice chairman of the board to be independent directors. read more

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