Wells Fargo has combined its treasury management and global payments services units into one group, and has hired a former Bank of New York Mellon executive to run the new division.
Paul Camp, who was most recently the CEO of treasury services at BNY Mellon, will join the San Francisco bank in November as head of its Global Treasury Management unit.
The recently created division will help Wells Fargo “leverage its capabilities more effectively to help clients manage their funds and process payments worldwide,” the $ 1.9 trillion-asset bank said in a press release.
Wells Fargo has hired Paul Camp to head its new Global Treasury Management division. Camp and Wells CEO Charlie Scharf were formerly colleagues at Bank of New York Mellon.
Read Also
- “Televisa does not support any type of violence”: Eleazar “N” has already been left out of “La mexicana y el güero” Nov 10, 2020
- Strasbourg: The city wants to set up tobacco-free spaces around schools Nov 18, 2022
- Bizarro responds to Sernac’s demand for Daddy Yankee’s concert: “We will present legal arguments” Nov 12, 2022
- Economy – In Argentina, raising children will count as weeks of pension contributions Aug 3, 2021
- Exatlón 2020: a new goodbye for Titanes and the first risk of elimination for Ernesto Cázares Nov 16, 2020
- Irina Baeva in New York: “I have a smile from ear to ear” Sep 20, 2020
- Harry Potter and other content that will no longer be on Netflix in November Oct 31, 2020
Cooper Neill / Bloomberg
Camp overlapped with Wells Fargo CEO Charlie Scharf at BNY Mellon when Scharf was the top executive at the New York-based trust bank. Scharf, who joined Wells Fargo in 2019, praised Camp’s experience earlier that year when Camp was added to BNY Mellon’s executive committee.
Camp is the former chief financial officer, treasurer and executive vice president of financial operations at the payments fintech Circle. He has also held top roles in transaction services and cash management at JPMorgan Chase and Deutsche Bank.
He will report to Perry Pelos, CEO of commercial banking at Wells Fargo, and Jon Weiss, CEO of corporate & investment banking.
“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,” Weiss said in the press release.
The reorganization will merge Wells’ Treasury Management & Payments Solutions group, which was folded into Wells Fargo’s commercial banking unit last year, and its Global Payments Solution group. The former team is run by Danny Peltz, who is retiring in December after 31 years at Wells.