Wells Fargo Aquires GE Capital’s Commercial Distribution Finance Business in Asia
- Includes CDF assets and 46 team members
- Exception of Australia and New Zealand, which are expected to close later this year
- Europe, Middle East and Africa segment will close later this year
Wells Fargo & Company announced today it has completed the purchase of the Asia segment of GE Capital’s Commercial Distribution Finance (CDF) business. The acquisition includes CDF assets and 46 team members in markets where Wells Fargo currently operates in Asia Pacific, with the exception of Australia and New Zealand, which are expected to close later this year.
“Asia is an important global market for the CDF business and our customers, and we’re excited to become part of Wells Fargo,” said Chris Wohlert, CDF Asia Business Leader. “We’re confident this will be a seamless integration, and we will continue to provide our customers with excellent service and support. With the strength of Wells Fargo, over time, we can also offer our customers a broader selection of financial products and services to help them be even more financially successful.”