Wells Fargo & Company announced that Guy Fuchs has been appointed president and chief operating officer of Wells Fargo Capital Finance, the bank’s asset-based lending unit, effective immediately. Fuchs, a 14-year veteran of the firm, will continue to report to Henry Jordan, chairman and chief executive officer of Wells Fargo Capital Finance. In his new role, Fuchs will oversee the three core business groups of Capital Finance and the shared service teams that are critical to those groups’ operations.

“By appointing Guy to this newly created role, we’ve created a framework for continuous, consistent leadership that will support our organization’s long-term growth,” said Jordan. “We saw double-digit growth in loans outstanding in 2014, and our factoring volume puts us among the largest bank-owned factors in the world. I’m confident that Guy’s extensive knowledge, leadership and industry experience will enhance our efforts for continued growth in helping our customers succeed financially.”

Fuchs, with 25 years of industry experience, joined Wells Fargo in 2001 and most recently served as executive vice president and the head of the Corporate Finance group at Wells Fargo Capital Finance. Prior to joining Wells Fargo, he held various leadership roles at GE Capital and CIT Group. Fuchs earned a bachelor’s degree in accounting from Indiana University, and was a certified public accountant before entering the asset-based lending industry.