Wells Fargo Enjoys Financial Success North of the Border

Wells Fargo pic

Wells Fargo
Image: wellsfargo.com

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.

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American Banks Send Experienced Representatives to Canada

Canada

Canada

 

Eric Fornell is vice chairman of investment banking and capital markets for Wells Fargo Securities. From his base in New York City, Eric Fornell has been instrumental in expanding the company’s investment banking efforts into Canada.

A story published in the Toronto Globe and Mail portrayed Fornell as experienced in his field and able to avoid potential problems in business situations through capable dealings. The article described Fornell as “a veteran U.S. banker” who skillfully “stick-handled the file” when working to advise TransCanada Ltd. on acquiring the Columbia Pipeline Group.

American banks have increasingly begun to push into Canada, peddling their lending capabilities, and have won some of the choicest merger-and-acquisition contracts available in that country. But according to the Globe and Mail article, it takes more than their lending power to win Canadian business. Wells Fargo’s experience in handling companies looking to make hard-asset acquisitions has been helpful, and having experienced representatives like Fornell on hand who are well-versed in the peculiarities of companies they are working with can be just as essential.