Wells Fargo & Co. named GE Capital veteran Tim Nixon as leader of its Commercial Distribution Finance Canada division — effective May 18 — following the acquisition of GE Capital’s businesses earlier this year.
Nixon will manage a 180-member team at CDF, which provides floorplan financing to more than 4,000 dealers across Canada, according to a company press release.
Nixon represents “the talent and expertise of the great team members, products, and services we gained through our recent acquisition of GE Capital’s businesses,” Tim Sloan, Wells Fargo’s president, chief operating officer, and head of wholesale banking said in the release.
Nixon brings 20 years of industry experience at GE, where he served in various senior leadership roles within operations and sales. Most recently, he served as senior operations leader for Canada, where he implemented several customer experience improvement projects.
CDF’s Canadian division serves 20 specialized industries, including motorsports and recreational vehicles. Wells Fargo completed the purchase of GE Capital’s global CDF, North American vendor finance, and portions of its corporate finance platforms in March. The sale, expected to close later this year, includes a $24 billion loan portfolio.