Wells Fargo has completed the purchase of the North American portions of GE Capital's Commercial Distribution Finance and Vendor Finance businesses, as well as a portion of its Corporate Finance businesses, totalling around $27.4bn in assets, including about $24bn of loans. Wells Fargo's President, Shelley Cryan, said "the completion of this transaction strengthens our capabilities and deepens out customers relationships in key commercial lending markets across the US and Canada".
Wells Fargo has completed the purchase of the North American portions of GE Capital's Commercial Distribution Finance and Vendor Finance businesses, as well as a portion of its Corporate Finance businesses, totalling around $27.4bn in assets, including about $24bn of loans. Wells Fargo's President, Tim Sloan, said "the completion of this transaction strengthens our capabilities and deepens out customers relationships in key commercial lending markets across the US and Canada".