Wells Fargo Century Becomes Wells Fargo Trade Capital
Wells Fargo Century – part of Wells Fargo & Company (NYSE: WFC) – said today it has changed its name to Wells Fargo Trade Capital to reflect its core business: supply-chain financing solutions for clients serving the U.S. retail and consumer marketplace.
“Our business has developed into much more than the New York-based apparel factor it began as more than 50 years ago,” said Stuart Brister, president and CEO of Wells Fargo Trade Capital. “Today, retailers rely heavily upon international sourcing options. Our name change shows how we have evolved to meet the shifting needs of our clients by providing the financing solutions necessary to carry them through this global supply chain"
Wells Fargo Trade Capital, the largest bank-affiliated factoring company in the U.S., provides senior secured financing solutions for domestic and international manufacturers, wholesalers and importers through trade finance and factoring. Wells Fargo’s Asset-based Lending Group provides traditional asset-based and non-traditional senior secured financing solutions from $2 million to more than $1 billion, along with factoring, trade finance, purchase order finance and distribution finance products. The group’s businesses include Wells Fargo Foothill; Wells Fargo Retail Finance; Wells Fargo Business Credit; Wells Fargo Trade Capital; Wells Fargo Distribution Finance; Transcap, a Wells Fargo company; and the Canadian affiliates, Wells Fargo Foothill Canada and Wells Fargo Business Credit Canada.
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