Wells Fargo Capital Finance, a division of Wells Fargo & Company (NYSE: WFC), announced that Executive Vice President Kevin Gillespie has been named head of its Middle Market Asset-Based Lending Group, a newly formed business group focusing on transactions under $35 million. Gillespie will serve as lead executive for middle market relationships for Capital Finance with shared responsibility for credit, operational risk, compliance and new business development. He will also work closely with the head of Middle Market National Originations and the Middle Market ABL group Credit Officer for Wells Fargo Capital Finance. Both positions are new and are expected to be filled in Q3, 2018.
“Wells Fargo is the #1 Middle Market Banking lender in the U.S. and Capital Finance is a leader in asset-based lending, so strengthening our Middle Market ABL group and finding the right leaders to accelerate the growth is critical,” said David Marks, head of Wells Fargo Capital Finance. “With his experience in asset-based lending along with leading Wells Fargo’s Capital Finance factoring business, which is the largest bank-owned factoring business in the country, Kevin’s expertise and determination makes him a key leader to help strengthen our commitment to the middle market ABL industry.”
A 20-year industry veteran, Gillespie joined Wells Fargo in 2010, and most recently led the relationship and credit management teams for the Commercial Services Group, part of Capital Finance. Prior to joining Wells Fargo, Gillespie spent 14 years at The CIT Group where he held numerous positions in account management, underwriting, and business development. He is a member of the Commercial Finance Association and is active in several credit and trade associations. Gillespie holds a Bachelor of Science in Finance from Villanova University and a Masters of Business Administration in Finance from The Gabelli School of Business Fordham University.
Wells Fargo Capital Finance is the trade name for certain asset-based lending services, senior secured lending services, accounts receivable and purchase order finance services, and channel finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior and junior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across the United States and internationally. Dedicated teams within Wells Fargo Capital Finance provide financing solutions for companies in specific industries such as retail, software and hi-tech, healthcare, commercial finance, staffing, government contracting and others.