Wells Fargo names agribusiness executive

AP News
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Posted: Dec 07, 2009 4:09 PM

Wells Fargo & Co. said Monday it has hired a new leader for its food and agribusiness industry group.

Lance Holden, a former Commerce Bank executive, will be responsible for developing and managing agribusiness relationships among food and fiber producers in central and eastern states.

Holden, who will be based in Kansas City, also will head the grain merchandising and flour mill sectors.

Before joining Wells Fargo, he was the agribusiness and food processing group division manager at Commerce Bank.

The agribusiness industry group is part of the Wells Fargo commercial banking division, which serves companies from $10 million to $750 million in annual revenue through 113 offices nationwide and on the Internet. The division provides credit, treasury management, investment products, and financial services.

Wells Fargo & Co. has $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs.

Wells Fargo shares fell 59 cents, or 2 percent, to $26.37 in afternoon trading.