Boston, MA 08/14/2014 (wallstreetpr) – Diversified financial services provider Wells Fargo & Co (NYSE:WFC) disclosed that it had appointed Barry Sturdivant to head the company’s National Food and Agribusiness segment. He is expected to take the further lead in its initiatives with the nursery and greenhouse industry in the U.S.
Horticulture Industry
Wells Fargo & Co (NYSE:WFC), which has been the number one agriculture lender for close to two decades, had positioned itself for maintaining its uptick in the $16 billion horticulture industry of nursery and greenhouse. For this, the financial services provider had hired Sturdivant, who was with the Nursery/Greenhouse Agribusiness Center of the Bank of the West since 2000.
Wells Fargo’s move seems to be a calculated one with the recent study of the U.S. Department of Agriculture Census indicating 13% growth in greenhouse, nursery, and floriculture production between 2002 and 2007. The sales also advanced to $16.6 billion from $14.7 billion during the same period.
The company had also indicated that the appointment of Sturdivant, who was regarded as a leading authority in the horticulture industry, had only reinforced its dedication to its growing agribusiness network. It will use his specialized expertise for the benefit of its clients from the sector and also help the company maintain its uptick in its business in the sector.
Need For Specialized Person
The incumbent Sturdivant said that the growers of greenhouse and wholesale nursery have started feeling for a strong need of a specialized person with a background of industry with the local and national perspective. He will work with the local commercial bankers of the company to serve the local horticulture businesses.
Wells Fargo & Co (NYSE:WFC) said that it had boosted its resources for the horticulture industry after it expanded into agribusiness and food in the Eastern markets of the U.S. recently. Sturdivant also felt that personal and frequent contact would position the company to understand the local economy better and achieve success of its operations.
