As Vice Chairman, Investment Banking for Wells Fargo Securities, Eric Fornell provides strategic financial guidance to clients. As part of his role, Eric Fornell supported Wells Fargo’s expansion into Canada and recruited banking teams in Calgary and Toronto. In 2012, Wells Fargo elevated its Canadian presence to meet the borrowing needs of Canadian firms, particularly those with operations in the United States and other countries.
After receiving a license from regulators to make loans and take deposits in Canada, Wells Fargo established a presence as a Schedule III bank. Initially, Wells determined that it would focus on corporate and commercial clients while not competing for retail customers. Through this expansion, Wells Fargo, the fourth-largest U.S. bank by assets, made progress on its goal to advance its international strategy.
As of 2014, Canada was one of the top three countries where Wells Fargo offered loans, along with the United Kingdom and China. However, it remains a largely U.S.-centric bank, with approximately 6 percent of its loan portfolio coming from international clients.
After receiving a license from regulators to make loans and take deposits in Canada, Wells Fargo established a presence as a Schedule III bank. Initially, Wells determined that it would focus on corporate and commercial clients while not competing for retail customers. Through this expansion, Wells Fargo, the fourth-largest U.S. bank by assets, made progress on its goal to advance its international strategy.
As of 2014, Canada was one of the top three countries where Wells Fargo offered loans, along with the United Kingdom and China. However, it remains a largely U.S.-centric bank, with approximately 6 percent of its loan portfolio coming from international clients.