Tag Archives: wells fargo

Wells Fargo Distribution Finance, part of Wells Fargo & Company, today announced the retirement of marine industry leader Bruce Van Wagoner after 45 years in the industry and 33 years with Distribution Finance (DF). Effective immediately, Chad Lyon will lead DF’s Marine group. “Above all, what I’m most proud of is the long-term customer relationships we’ve built which have strengthened ...

By Bruce Van Wagoner Catering to the Millennial Generation The millennial generation is often the subject of speculation as people constantly weigh in on how their actions and reactions will shape history. After all, the millennial population is 85 million strong in the U.S. – the largest in the nation’s history. Naturally, the boating industry is not immune to this ...

As the economy and the marine industry have improved over the past few years, the floorplan financing market has followed suit. Banks are lending more as dealers are looking to stock more boats to meet consumer demand, which is causing dealers to experience high turn rates.  “Growth in the marine industry has been great the past few years and inventory ...

Wells Fargo Commercial Distribution Finance announced Wednesday the official launch of CDFconnect, a knowledge sharing program that delivers tools, subject matter experts, and training to help CDF’s network of 40,000 dealers, and 2,000 distributors and manufacturers grow their businesses. Customers who use CDFconnect will have access to business resources that can help to increase revenues, improve margins, gain market presence, ...

Wells Fargo has completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance business, the company announced Monday. The acquisition includes CDF assets, and 123 team members across 5 sites in Australia, along with CDF assets and 7 team members across 2 sites in New Zealand. “CDF has a long history of serving customers ...

Wells Fargo & Company announced Friday it has completed the purchase of the Asia segment of GE Capital’s Commercial Distribution Finance 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 ...

On March 1, Wells Fargo officially acquired GE Capital’s Commercial Distribution Finance platform in the U.S. and Canada. The company expects to close on the rest of the global operations (which includes Europe, Africa, Middle East, Asia and Australia) this year. The deal with Wells Fargo was first announced in October 2015, as part of GE’s plan – outlined in ...

1:32 pm Updated with comment from Marine Group president Bruce Van Wagoner GE will sell a $30 billion piece of its commercial lending operations, including Commercial Distribution Finance, to Wells Fargo. GE Capital CDF is the largest provider of floorplan financing in the marine industry. “We’re very excited to be joining Wells Fargo, a respected industry leader who is committed ...

Wells Fargo has emerged as an early candidate to purchase GE Capital’s $74 billion commercial lending and leasing portfolio, according to multiple published reports. Last week, GE announced its plans to sell GE Capital, which provides much of the floorplan financing for the marine industry. The company is looking to simplify its business and escape from the regulatory oversight that ...

The year 2010 will represent the low point in new unit sales as a percent of total unit sales for the industry and a recovery in new powerboat unit sales, estimated at 10 percent, should begin in 2011. Those were among the conclusions of an interesting report issued today by Wells Fargo Securities in advance of Brunswick’s earnings report, which ...