Wells Fargo Taps New Supply Chain Finance Head

The corporate lending unit of Wells Fargo, Wells Fargo Capital Finance, has hired a new leader for its European supply chain finance initiatives. In an announcement yesterday (Aug. 18), the corporation revealed Nick Lawrence will take up the post as managing director of supply chain finance.

Wells Fargo said the new hire is part of its broader strategy to build a more robust presence in Europe for all three of its international financing tools: channel finance, sales finance and supplier finance.

“Supply chain financing is increasingly important in international trade as dynamic trends in the global market continue to add complexity,” said Steve Hopkins, who heads the corporation’s overall supply chain finance operations, in a statement. “Nick’s ability to implement strategies to drive growth and expansion of these programs will position us to support more of our customers throughout Europe.”

At Wells Fargo Capital Finance, the new supply chain expert will oversee European operations, oversee the creation of new supply chain finance programs and look to strengthen existing ties with vendors and suppliers, reports said. He will work under Hopkins’ leadership.

Wells Fargo said that Lawrence will join the team from his previous position at GE Capital Bank Limited as commercial leader of its commercial distribution finance operations in London. His background includes experience in cross-border trade receivables financing, supply chain financing and manufacturing distribution channel optimization.

According to reports, the last decade of his career has been focused on how technology can be optimized for global businesses and help them manage their cash flow, working capital, risk mitigation and supply chain strategies.

Wells Fargo recently saw another executive hire in its corporate financing operations. Last month the corporation revealed that Perry Pelos has been picked to lead corporate banking and treasury management, a position he will take up from his previous post as head of commercial banking.

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