Wells Fargo Commercial Banking’s National Food and Agribusiness has expanded its Philadelphia team in support of strengthening its financing of agricultural and agribusinesses operations in the Northeast U.S.– the country’s fifth largest agricultural production region.

 

The decision to expand its National Food and Agribusiness Division in the Northeast was driven in large part by strong growth seen in the region’s poultry sector, according to James Trankle, region head for Northeast U.S. and Eastern Canada Food and Agribusiness, in a recent press release. A growing demand for organic and all-natural poultry products has sparked growth for Pennsylvania’s poultry companies, and the region’s egg producers have gained market share due to lower production in the Midwest where producers were hit by avian flu.

 

The region’s dynamic metropolitan areas have created strong markets for northeast food and agribusiness companies, particularly seafood, dairy, poultry, and specialty fruits and vegetable companies.

 

The group has named company veteran, Michael Shea as the new relationship manager, to serve growers, processors, and distributors throughout the 12 states between Maryland and Maine. Shea began with Wells Fargo’s asset-based lending business, Capital Finance, and more recently worked within Wells Fargo Capital Finance’s Retail Finance Division.

 

Shea will be joining James Trankle who has overseen Wells Fargo’s Northeast and Eastern Canada ag lending since 2011. Trankle is the former treasurer and chief financial officer for Grain Millers Inc., one of the largest grain processors and dairy merchandizers in the U.S., and represents Wells Fargo in the North American Millers’ Association.

 

 

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