Veteran financial professional Eric Fornell serves as vice chairman of investment banking at Wells Fargo Securities in New York, New York. Responsible for the bank’s successful expansion into Canada, Eric Fornell personally oversaw the company’s Calgary- and Toronto-based teams.
In recent years, American financial institutions have enjoyed a great deal of success moving north into Canadian markets. Merrill Lynch and Citi were among the first to make the jump, beginning in 2009. Wells Fargo is one of the more recent adapters, but the investment giant has made significant progress in Canada already.
Part of Well Fargo’s success comes from the sheer amount of capital it has to lend in Canadian markets. Company representatives made the rounds with major Canadian companies early in the game, emphasizing the big bank’s ability to deliver. Wells Fargo also has been able to leverage its holdings in tangible assets including rail and pipelines, which appeal to big names in Canadian and American business.
University Liggett School
As the vice chairman of investment banking with Wells Fargo Securities in New York, Eric Fornell helps clients make wise investments in the energy and utility sectors. An active supporter of education, Eric Fornell has volunteered on the board of trustees for the University Liggett School, the high school he attended as a young man.
The University Liggett School is one of Michigan’s premiere private schools for students in pre-kindergarten through the 12th grade. Nationally recognized for its excellence, the institution is known for small class sizes, top-tier educators, and curriculum that puts students in control of their learning.
Older students at Liggett participate in an academic research program during their last four years at the school. Freshmen and sophomores practice their research skills and continue to build up strong foundations in critical thinking and applied learning. Juniors and seniors go on to engage in scholarly research, which ends with a cumulative research project tailored to each individual’s unique interests. Students receive an opportunity to present their findings publicly, providing them with valuable experience that serves them as they continue on to higher education.
A graduate of Oxford University and Amherst College, where he was a Rhodes scholar, Eric Fornell currently serves as the vice chairman of investment banking and capital markets at Wells Fargo Securities in New York. Eric Fornell’s past experience includes work at JP Morgan Securities in the area of energy and utilities, where he helped negotiate the Carbon Principles.
The Carbon Principles, announced in February of 2008, were a set of policies focused on the electric energy industry. Originally an agreement between Citi, JPMorgan Chase, and Morgan Stanley, the principles were later signed on to by Wells Fargo, Bank of America, and Credit Suisse. Several environmental groups were also involved in the development of the policies.
The Carbon Principles called for enhanced diligence in the financing of electric power projects that affect climate change. This diligence focused particularly on the industry’s use of low-carbon energy, renewable energy, energy efficiency, and advanced energy technologies. The principles addressed the growing concern of multiple coal-fired power plants that were being constructed and the carbon risks that stemmed from them, and recognized the need for private industry to take steps to protect the environment.