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Wells Fargo Commercial Banking Names Vargo as BDO in Chicago

May 22, 2013, 07:36 AM

As it keeps pace with increasing demand in Illinois and throughout the Midwest, Wells Fargo announced that James K. Vargo – a business leader here for more than 25 years – has joined its growing Commercial Banking team in Chicago. In his new role as senior vice president and business development officer, he will work with middle market companies, those with at least $20 million in annual revenue.

Most recently, Vargo served as chief financial officer (CFO) and treasurer for HomeDirectUSA in Hillside, Ill., from 2005 to 2013. He was CFO for The Bekins Company, also in Hillside, from 2002 to 2005. And with Impact Capital Group in Chicago, from 2000 to 2002, Vargo was managing director. He held management positions of increasing responsibility with The CIT Group in Chicago from 1994 to 2000, becoming senior vice president and Midwest Regional Manager for Business Credit. Earlier, he served in sales and credit roles with Congress Financial Corporation in Chicago.

“Jim’s combination of lending experience to middle market companies and financial management experience as CFO makes him superbly qualified to assist our customers and prospective customers as they grow their businesses,” said Dan Lange, senior vice president for Wells Fargo Commercial Banking in Chicago, where he heads one of the bank’s three commercial banking offices.

His group has grown to 22 commercial banking professionals in Illinois and has posted annual compound growth of 20 percent since 2004.

Vargo is a Certified Public Accountant, a Certified Turnaround Professional, and a Chartered Global Management Accountant. Vargo’s professional activities include Chicago and Midwest chapters of the Turnaround Management Association, Association for Corporate Growth, Commercial Finance Association, and Illinois CPA Society.

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