William J. Mayer named President and COO of Wells Fargo Retail Finance

Furniture World Magazine

William J. Mayer has been named the new President and Chief Operating Officer of retail asset-based lender Wells Fargo Retail Finance, LLC, a subsidiary of Wells Fargo & Company (NYSE: WFC). Mayer brings nearly 20 years of financial experience to Wells Fargo Retail Finance (WFRF), one of the largest companies targeting the retail niche of the asset-based lending industry. “We are pleased that Bill Mayer has joined our organization,” said Henry Jordan, President of Foothill Capital, an asset-based lending subsidiary of Wells Fargo. “His experience will enable Wells Fargo Retail Finance to grow and reach its goal of becoming the leading asset-based lender to the retail industry.” Prior to joining WFRF, Mayer was the managing director of GE Capital’s Corporate Lending Group in the Midwest region, which was comprised of 13 states plus all of Canada. While there, Mayer increased new business commitments in excess of $2.5 billion in less than two years. He also expanded the proportion of the portfolio devoted to retail to nearly $500 million in commitments, including co-agent on the recent K-Mart debtor-in-possession financing, agent on Wilson’s Leather, agent on Forzani in Canada, agent on Golf Galaxy, and participant in the Shopko credit. At GE Capital, Mayer also managed a large portfolio of retailers while at GE Card Services – a private label credit card unit – where he worked with major retailers including Home Depot, Payless Cashways, Auto Zone, Builders Square, Hechingers, and Advanced Auto. “I am delighted with this opportunity to join Wells Fargo Retail Finance and hope to make it the premiere lending organization for the retail industry,” Mayer said. “In a competitive retail environment, WFRF offers the financing expertise retailers need for working capital, growth capital or acquisition funding. Additionally, through our parent Wells Fargo, we can offer a broad range of retail banking services.”