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Wells Fargo announces promotion of Gene Peterson as head of food and agribusiness division.

M2 EQUITYBITES-June 10, 2016-Wells Fargo announces promotion of Gene Peterson as head of food and agribusiness division

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Wells Fargo & Company (NYSE:WFC) revealed on Friday that Gene Peterson has been named head of its National Food and Agribusiness Division.

In this position, Peterson will direct the division's continuing national growth and be part of the bank's commitment to farmers and food producers.

A fourth-generation family farmer, Peterson assumes the new role after being head of the company's agribusiness lending operations out of Fresno for California's Central Valley. He succeeds longtime group head Rob Yraceburu, who retired. Peterson has worked in finance his entire 31-year career, 30 with the company.

Peterson began his career in North Dakota with the US Department of Agriculture in 1985, administering agriculture, business and rural residential loans and in 1986, he joined Wells Fargo agribusiness lending. In 2006, his role expanded to oversee Wells Fargo Commercial Banking operations in addition to agribusiness lending in Arizona. Gene and his team grew the bank's market share to become the leading lender to middle-market and agriculture businesses in Arizona.

According to the company, the national practice includes the newly-enhanced Food and Agribusiness Advisor Group, which provides specialised industry perspectives to the company's agribusiness customers. It also provides credit-assessment support and the advisers share agribusiness expertise through presentations and webinars.

Wells Fargo provides retail, commercial and corporate banking services. It operates through the Community Banking segment; Wholesale Banking segment; and Wealth, Brokerage and Retirement segment. As of 25 February 2015, it operated through about 8,700 locations and 12,500 ATMs and offices in 36 countries. Founded in 1852, it is headquartered in San Francisco, California.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U9CA
Date:Jun 10, 2016
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