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GENE PETERSON NAMED HEAD OF WELLS FARGO'S NATIONAL FOOD AND AGRIBUSINESS DIVISION
Jun. 13, 2016
Source: Wells Fargo news release
Wells Fargo (NYSE:WFC), the nation's No. 1 commercial agriculture lender, has named Gene Peterson head of its National Food and Agribusiness Division. He will direct the division's continuing national growth and as part of the bank's commitment to American farmers and food producers.
Peterson, a fourth-generation family farmer, takes on the new role after leading Wells Fargo's agribusiness lending operations out of Fresno for California's Central Valley, one of the world's most-productive agricultural regions with more than 230 different crops, many dominantly or exclusively California-grown. He succeeds longtime group head Rob Yraceburu, who retired from the bank.
"Our strength, stability, and long history in serving this industry allow us to strategically expand in agriculture across the nation," said Peterson. "We have a strong, dedicated team that is focused on helping our customers' businesses thrive through future generations."
The national practice includes the newly-enhanced Food and Agribusiness Advisor Group, which provides specialized industry perspectives to Wells Fargo agribusiness customers. The group provides credit-assessment support, including strategic plan analysis, industry risk assessment, and peer benchmarking. In addition, the advisors share agribusiness expertise through industry presentations and webinars.
Peterson began his career in North Dakota with the U.S. Department of Agriculture in 1985, where he administered agriculture, business, and rural residential loans. In 1986, he moved to Arizona where he joined Wells Fargo agribusiness lending. In 2006, his role expanded to oversee Wells Fargo Commercial Banking operations in addition to agribusiness lending in Arizona. Gene and his team grew the bank's market share to become the leading lender to middle-market and agriculture businesses in Arizona.
"Wells Fargo has been committed to the U.S. food and agriculture industry through numerous economic cycles," said MaryLou Barreiro, head of Wells Fargo Commercial Banking Specialty Industries. "Gene and his team will leverage Wells Fargo's agriculture expertise and financial strength to grow our support of an industry that is vital for every American."
Peterson holds a bachelor's degree in agricultural economics from North Dakota State University and attended the Pacific Coast Graduate School of Banking in Seattle. He has worked in finance his entire 31-year career, 30 with Wells Fargo.
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