To better serve its U.S. and Canada-based commercial and corporate customers, Wells Fargo & Company (NYSE: WFC) announced today it is expanding its Wholesale banking capabilities throughout Canada. Currently the leading lender to middle market companies in the U.S., Wells Fargo can now provide expanded lending, treasury management, foreign exchange and trade services to customers in Canada. With its head office in Toronto, the new Canada branch will support Wells Fargo’s existing U.S. customers with subsidiaries in Canada and Canadian customers with business in the U.S., as well as local Canadian companies.
- Lending – Wells Fargo provides Canadian commercial and corporate borrowers with direct loans and participations in syndications.
- Treasury Management – Wells Fargo provides treasury management services to clients, their customers and supply chain partners in Canada. These services are available in U.S. and Canadian dollars and managed through Wells Fargo’s international treasury management platform.
- International Services – Wells Fargo provides foreign exchange and trade services to Canadian customers on a cross-border basis.
With offices in Toronto, Vancouver, Calgary and Montreal, Wells Fargo & Company has approximately 75 team members in Canada dedicated to serving its customers.Wells Fargo Bank received regulatory approval to operate in Canada as a Schedule III bank on September 28, 2012. Prior to receiving its license, Wells Fargo operated select businesses in Canada, including Business Direct, First Union Rail, Capital Finance and Equipment Finance. Commercial Banking, Global Banking, Commercial Real Estate and the Energy group will be the first lines of business to operate under the new license. As it continues to strengthen its capabilities in Canada, Wells Fargo plans to integrate select pre-existing business lines into the new branch. About Wells Fargo & Company Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet ( wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50466969&lang=en