Wells Fargo announces retirement of Commercial Capital head Ed Blakey
Wells Fargo & Company announced that EVP Ed Blakey will retire as head of its Commercial Capital business, part of the company's Wholesale Banking group. As head of Commercial Capital, Blakey oversaw the company's Asset-Backed Finance & Securitization, Capital Finance, Commercial Distribution Finance, Corporate Trust Services, and Equipment Finance divisions. Wells Fargo also announced that David Marks, who has been with the company for 31 years and is currently head of Wells Fargo Capital Finance, will succeed Blakey as head of Commercial Capital starting June 30, 2018. In addition, ABF, which dual-reported into Commercial Capital and the Wells Fargo Securities business, will continue to be led by Chris Pink, and going forward, will solely report into the Wells Fargo Securities business under Mary Katherine DuBose, managing director and head of Debt Capital Markets. Blakey will remain in his current role through the transition.