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Wells Fargo's head of commercial capital business to retire

Wells Fargo & Co. Executive Vice President Ed Blakey will retire as head of the company's commercial capital business, which is part of its wholesale banking group.

David Marks, who is currently the head of Wells Fargo Capital Finance, will replace Blakey, effective June 30.

Chris Pink will continue to lead the company's asset-backed finance and securitization division.