TCP Capital, a business development company, announced the appointment of Peter E. Schwab as an independent director.

Schwab has 39 years of experience in the asset-based lending industry, most recently as chairman and chief executive officer of Wells Fargo Capital Finance. Prior to joining Wells Fargo Capital Finance (and its predecessor firm Foothill Capital Corporation), he was vice president of business development with Aetna Business Credit (now known as Barclaysamerican Business Credit). He started his career as business development officer at the National Acceptance Company of California.

“We are pleased to welcome Pete to the TCP Capital Corp. board,” said Howard Levkowitz, chairman of the board and chief executive officer of TCP Capital. “He brings extensive experience in our Company’s targeted area of middle market lending. Pete’s skills are a strong complement to the board’s existing talents.”