Wells Fargo expands fintech banking team
By Wells Fargo
Wells Fargo Corporate Banking announced today that it has expanded its financial technology banking team to better serve financial products and services companies that rely on new technology. Charles “Chuck” Silverman, a 25-year company veteran, has been named head of the expanded Financial Technology (FinTech) Group.
As executive vice president and group head, Silverman now oversees a specialized coast-to-coast relationship management team within Corporate Banking’s Technology, Media and Telecom Group. The specialized team delivers Wells Fargo’s expertise in serving fintech companies from early stage to large corporate firms and also serves corporations with embedded fintech businesses.
“The expanded Financial Technology Group supports the industry with dedicated relationship managers and supportive infrastructure,” said Eric Houser, head of Wells Fargo Technology, Media and Telecom Corporate Banking Group. “Chuck and his team provide seamless support to fintech clients and deliver innovative products to our commercial and corporate clients.”
Building upon a successful approach to working with financial companies and continuing investment in the fintech industry, the expanded FinTech Group draws its competitive advantages from Wells Fargo’s nationwide consumer and commercial businesses, which serve the growth and development of fintech companies. In addition, Wells Fargo’s strong merchant services business, coupled with financial crimes prevention, helps fintech companies grow and develop business securely.
The new investment in the FinTech Group improves Wells Fargo’s ability to deliver innovative and coordinated capabilities in this dynamic and fast growing sector, according to Houser. Silverman and his team work closely with Wells Fargo Securities’ Financial Technology Investment Banking coverage group to bring the bank’s knowledge and capabilities to clients in this sector.
Prior to Silverman’s new role, he served seven years as Wells Fargo Global Financial Institutions’ group head, overseeing teams in more than 32 overseas and U.S. locations that manage the bank’s relationships with domestic and international financial institutions, supranationals, sovereigns, and agencies. His expertise in compliance, credit, payments, and global financial systems represent an important investment by Wells Fargo in fintech.
Silverman earned a bachelor’s degree in East Asian studies from Dickinson College in Carlisle, Pennsylvania. He also studied in Nanjing, China. Silverman previously sat on the Federal Reserve Bank of New York Payments Risk Committee and is a former chairman of the Bankers’ Association for Finance and Trade.