Wells Fargo Names Holterman to Head Financial Products Trading

SAN FRANCISCO, June 21 /PRNewswire-FirstCall/ -- Wells Fargo & Company named Gordy Holterman head of Financial Products Trading in the company's Securities Investment Group (SIG).

Holterman will oversee all trading and risk management of derivative products, including interest rate swaps and options, tax-exempt and tax-advantaged structured products, equities, equity options, convertible bonds, structured investment products and various physical commodities for commercial and institutional customers. He will report to David Weber, executive vice president and head of Strategic Investments for Wells Fargo.

"Customers turn to Wells Fargo for help managing their exposure to financial risks as well as their investment needs," said Weber. "This heightened focus will enhance our ability to manufacture and distribute a broad array of investment and risk management solutions for our customers -- from the simplest interest rate hedge to a customized investment linked to the price of milk."

A 16-year industry veteran, Holterman joined Wells Fargo in 2001 to manage equity derivatives, distressed debt and convertible bonds. He had managed his own small investment fund after working several years for a Boston-based affiliate of Farallon Capital Management. A graduate of the Massachusetts Institute of Technology and Stanford Law School, he started his career as a securities lawyer before joining the Chicago-based options trading firm O'Connor and Associates. He is a former national bicycle-racing champion and still occasionally competes in local triathlons.

Wells Fargo Wholesale Banking serves middle-market and large corporate businesses with traditional and asset-based lending, treasury management, equipment leasing, international, institutional investment, insurance brokerage, risk management, and real estate services.

Wells Fargo & Company is a diversified financial services company with $436 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, "Aaa," from Moody's Investors Service.