Wells Fargo Commercial Banking Names James Vargo as SVP, Business Development Officer in Chicago
As it keeps pace with increasing demand in Illinois and throughout the
Midwest, Wells Fargo & Co. (NYSE:WFC) said today that James K. Vargo – a
business leader here for more than 25 years – has joined its growing
Commercial Banking team in Chicago. In his new role as senior vice
president and business development officer, he will work with middle
market companies, those with at least $20 million in annual revenue.
Most recently, Vargo served as chief financial officer (CFO) and
treasurer for HomeDirectUSA in Hillside, Ill., from 2005 to 2013. He was
CFO for The Bekins Company, also in Hillside, from 2002 to 2005. And
with Impact Capital Group in Chicago, from 2000 to 2002, Vargo was
managing director. He held management positions of increasing
responsibility with The CIT Group in Chicago from 1994 to 2000, becoming
senior vice president and Midwest Regional Manager for Business Credit.
Earlier, he served in sales and credit roles with Congress Financial
Corporation in Chicago.
“Jim’s combination of lending experience to middle market companies and
financial management experience as CFO makes him superbly qualified to
assist our customers and prospective customers as they grow their
businesses,” said Dan Lange, senior vice president for Wells Fargo
Commercial Banking in Chicago, where he heads one of the bank’s three
commercial banking offices. His group has grown to 22 commercial banking
professionals in Illinois and has posted annual compound growth of 20
percent since 2004.
Vargo earned both his bachelor’s degree in accounting and finance and
his MBA in finance from Northern Illinois University. He is a Certified
Public Accountant, a Certified Turnaround Professional, and a Chartered
Global Management Accountant. Vargo’s professional activities include
Chicago and Midwest chapters of the Turnaround Management Association,
Association for Corporate Growth, Commercial Finance Association, and
Illinois CPA Society. He lives in Hinsdale, Ill., where he is raising a
family.
Wells Fargo anticipates more lending and jobs growth in the Midwest as
the company looks forward to the opening of its new regional
headquarters in September at the Chicago Mercantile Exchange Center.
Last year, the company signed the biggest lease in Chicago since 2009
when it agreed to occupy nearly 300,000 square feet at the Wacker Drive
complex.
About Wells Fargo Commercial Banking
Wells Fargo’s Commercial Bank serves businesses with annual sales above
$20 million. Nationwide, Wells Fargo is No. 1 lender to middle market
companies. In addition to providing a world-class customer experience
for our clients, Wells Fargo Commercial Bankers are also committed to
being good citizens, from charitable giving to volunteering to public
service.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.4 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com),
and has offices in more than 35 countries to support the bank’s
customers who conduct business in the global economy. With more than
270,000 team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 25 on
Fortune’s 2012 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and help
them succeed financially.
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