First Union Rail Now Wells Fargo Rail

February 25, 2016

Wells Fargo & Company (WFC) has announced that First Union Rail, its railcar finance, leasing and fleet subsidiary, has changed its name to Wells Fargo Rail.

“Our business is proud to carry the Wells Fargo name,” said Wells Fargo Rail President Barbara Wilson. “We are uniquely positioned to offer a wide range of banking products and services to our customers and our new name reinforces our commitment to providing Wells Fargo customers with industry-leading service and railcar and locomotive equipment options to support their business needs.”

Wells Fargo Rail provides finance and operating lease structures, and railcar lease management services. The company offers a wide selection of railcars diversified across 22 commodity groups and a locomotive fleet of switchers and 4 and 6 axle units.

The company’s recent acquisition of GE’s railcar and locomotive leasing business has made Wells Fargo Rail the largest railcar and locomotive leasing company in North America, with more than 175,000 railcars and 1,800 locomotives.

Article courtsey of: www.railresource.com