Wells Fargo is combining its domestic correspondent banking division and international financial services unit to create a new global correspondent banking group, which will be headed by Ron Caton.
Wells Fargo says the unit will provide customers with the products and services needed to operate in both domestic and international markets including credit, financial risk management, foreign exchange, corporate trust, treasury and investment management services.
Caton, an executive vice president and former manager of the bank's wholesale loan services division, comments: "Aligning all our services under one roof gives us an opportunity to expand relationships with our domestic correspondents, global partner banks, global alliance partners and the Central Banks around the world."