Wells Fargo has achieved significant growth this year through strategic acquisitions of GE Capital assets and businesses. In October, Wells Fargo agreed to purchase GE Capital’s global Commercial Distribution Finance, North American Vendor Finance and Corporate Finance platforms. The sale included ending net investment of approximately $30 billion (about $32 billion of assets) and approximately 3,000 employees.
Earlier in October, Wells Fargo agreed to purchase General Electric Railcar Services, GE Capital’s remaining railcar leasing business.
In April, Blackstone and Wells Fargo signed agreements to purchase most of the assets of GE Capital Real Estate in a transaction valued at approximately $23 billion.