The pending sale of portions of GE Capital to Wells Fargo will not have much impact on the roughly 100 GE Capital employees in Macon, a company official said.
Wells Fargo announced Tuesday it had signed an agreement to buy GE Capital’s Commercial Distribution Finance and Vendor Finance divisions along with part of GE’s Corporate Finance business.
The Macon office is part of Vendor Finance.
The deal involves assets of about $32 billion and about 3,000 employees. The sale is expected to be made final early next year.
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Sue Bishop, spokeswoman for GE Capital, said the name change will be the biggest impact on the Macon office.
“They will just become part of Wells Fargo,” she said. “There really shouldn’t be much change.”
The Macon office, located at 1738 Bass Road, specializes in helping small and medium-sized businesses get financing for copiers and other equipment.
The amount of the sale was not disclosed.
“This acquisition is an outstanding opportunity for Wells Fargo to deepen relationships and strengthen our presence in key commercial lending markets,” Tim Sloan, head of Wells Fargo Wholesale Banking, said in a release. “GE Capital’s businesses are industry leaders with proven business models and capabilities backed by exceptionally talented and experienced teams.”
To contact writer Wayne Crenshaw, call 256-9725.