Paul Camp Named Head of New Global Treasury Management Group at Wells Fargo

Rhea-AI Summary

Wells Fargo has appointed Paul Camp as the new head of Global Treasury Management, effective November. Previously CEO of Treasury Services at BNY Mellon, Camp brings over 21 years of experience in treasury management and payment solutions. This strategic move combines Treasury Management and Global Payment Solutions into one division, enhancing service capabilities for clients. Danny Peltz, the current head, is set to retire in December. Wells Fargo continues to focus on growth and innovation to support various business sizes.

Positive

• Appointment of Paul Camp, experienced leader, to enhance Global Treasury Management.
• Strategic consolidation of Treasury Management and Global Payment Solutions for improved client services.
• Focus on growth and innovation in treasury management and payment solutions.

Negative

• None.

Wells Fargo & Company (NYSE: WFC) today announced that Paul Camp has been named head of Global Treasury Management. Most recently CEO of Treasury Services at BNY Mellon, he will join the company in November, and will dually report to Perry Pelos, CEO of Wells Fargo Commercial Banking, and Jon Weiss, CEO of Corporate & Investment Banking.

Paul Camp (Photo: Wells Fargo)

This new role brings together Wells Fargo’s Treasury Management and Global Payment Solutions teams into one organization that provides global cash management and payments services. By combining these businesses, Wells Fargo will be able to leverage its capabilities more effectively to help clients manage their funds and process payments worldwide. As previously announced internally to Wells Fargo, Danny Peltz, a 31-year veteran of Wells Fargo and the current head of Treasury Management & Payment Solutions, will retire on Dec. 15.

“Over Paul’s 21-year career, he has experience at industry-leading global financial institutions and in technology startup environments, focused on delivering the best solutions for clients. He has a deep background in treasury management and payment solutions, which are strategic growth opportunities for the company,” said Pelos.

“Paul brings valuable expertise to this role where he will develop a strategy focused on growth and innovation, serving large, medium, and smaller businesses alike. We are excited to have him join later this year to lead our efforts to enhance products and services that are foundational to our client relationships,” said Weiss.

At BNY Mellon, Camp led an organization that offers global payments, trade services, cash management, and foreign exchange services in 36 countries. Before that, he served as the CFO, treasurer, and EVP of Financial Operations at Circle, a fintech focused on secure technology to use and store money. He’s also held senior-level roles in transaction services and cash management at both JP Morgan Chase and Deutsche Bank.

Paul holds a B.A. in classical studies from Dartmouth College and an MBA from Harvard Business School. During his time at BNY Mellon, he was recognized for his work on diversity, equity, and inclusion issues and looks forward to continuing that work at Wells Fargo.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

News Release Category: WF-LO

View source version on businesswire.com: https://www.businesswire.com/news/home/20210817005680/en/

FAQ

Who is the new head of Global Treasury Management at Wells Fargo?

Paul Camp has been appointed as the head of Global Treasury Management at Wells Fargo.

When will Paul Camp start his role at Wells Fargo?

Paul Camp will join Wells Fargo in November.

What changes are happening in Wells Fargo's treasury management division?

Wells Fargo is combining its Treasury Management and Global Payment Solutions teams into one organization.

Who will Paul Camp report to at Wells Fargo?

Paul Camp will report to Perry Pelos and Jon Weiss.

What experience does Paul Camp have before joining Wells Fargo?

Paul Camp previously served as CEO of Treasury Services at BNY Mellon and held senior roles at JP Morgan Chase and Deutsche Bank.