John Schmidt appointed to lead new team; names seniors leaders across the product divisions.
SANTA MONICA, August 24, 2016 – Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE: WFC), announced today the new originations team for its Supply Chain Finance Group.
This team is a result of the acquisition of GE Capital’s Commercial Distribution Finance business, which has now made Wells Fargo Capital Finance the largest channel finance provider in North America.
Schmidt reports to Scott Diehl, head of Global Capital Solutions for Wells Fargo Capital Finance, who noted that, “The new Vendor and Business Development structures will improve our ability to serve our customers and prospects with their financial needs with a goal to become their trusted advisor. With John and these focused teams, we have the ability to deepen our relationships with our customers and prospects and while ensuring a seamless and integrated approach to how we work with them across our platform.”
The Supply Chain Finance Group consists of three products: Channel Finance, Supplier Finance and Sales Finance, all with a focus on delivering working capital financing products that support the growth and liquidity of buyers and sellers of products in technology, manufacturing, distribution, retail, consumer products, aerospace, automotive, and energy. These programs are individually tailored and address both payables and receivables for companies and their trading partners, helping to support their operations with liquidity to keep supply chains moving.
Prior to this role, Schmidt co-founded and was managing partner at Castle Pines Capital, LLC, prior to Wells Fargo acquiring the company in 2011.
Schmidt has appointed key leaders to his group to meet the needs of customers and prospects across all the product divisions are being met. These individuals will lead marketing and sales efforts to bring the breadth of the Wells Fargo Supply Chain Finance products to market:
Steve Hopkins, based in Denver, will lead Vendor Originations for the channel finance team, the technology vertical for Supply Chain Finance. Hopkins has more than 25 years of leadership experience in the financing industry. Prior to joining Wells Fargo, Hopkins spent 13 years as the Director of Global Channel Financing for Cisco Systems Inc., providing working capital solutions for Cisco’s partners across 166 countries. During his career, he has created international business capabilities, led global teams, managed enterprise portfolios, and facilitated global sales and operations.
Mike Marcolina, based in Atlanta, will lead Business Development for the channel finance team, the technology vertical for Supply Chain Finance, which focuses on IT Solution Providers. Marcolina has more than 25 years industry experience. Prior to this role, Marcolina led the sales team for GE’s Commercial Distribution Finance Technology team (now part of Wells Fargo Capital Finance). As the technology industry has continued to grow and expand, Marcolina has worked with many of the leading entrepreneurs in the industry to ensure that their sources of liquidity are able to adapt to the changing landscape.