Lynn Whitmore

Managing Director of Retail Finance, Wells Fargo Capital Finance

Biography:

Lynn Whitmore, Managing Director of Retail Finance for Wells Fargo Capital Finance, leads the business development and underwriting efforts for the Retail Finance Division that provides customized product capabilities for retailers across North America. Lynn, a 17-year industry veteran, has held various leadership positions across Wells Fargo Capital Finance that focused on solving the complex financing needs of retailers.

Lynn has exhibited true leadership for the team members in the group as well as others at Wells Fargo. Her relationship management, underwriting, and marketing skills make her an exceptionally unique and well-rounded senior executive leader in the industry. She is also a mentor to many of the young experienced team members.

Prior to joining Wells Fargo, Lynn worked at Paragon Capital, which Wells Fargo acquired in 2001. Lynn also held positions at Filene’s, a division of May Department Stores, in the buying and finance departments.

Lynn has a Bachelor in Science degree from Cornell University, and is a member of both the Secured Finance Network and the Turnaround Management Association. She is also active with the West End House Boys & Girls Club.

What advice would you offer to women just starting out in the industry?

Most importantly, hard work and effort will guarantee success. There might be other ways to succeed (such as good luck!), but hard work and effort will always lead to success. Consider yourself a professional who commands respect, and you will be seen that way and treated as such by your colleagues. Don’t think of yourself only as a woman in the industry; think of yourself as a professional in the industry. Own your gender, but don’t let it be a limiter on making connections or your personal success. Finally, one of the best pieces of advice I received was very early in my career: don’t be afraid to raise your hand and ask when you don’t know something. It can save a lot of time, eliminate confusion and help achieve consensus.

What do you know now that you wish you knew in the beginning of your career?

Forging relationships and building a network outside of your immediate team is important. For me, this has meant developing relationships across the bank, as well as outside of it with peers and counterparts across many facets of the industry. I think this can expand your perspective, both personally and professionally. You have to be on the lookout for new challenges, new paths, and new opportunities. Don’t be afraid of change; embrace it and see it for the possibilities that it can afford. A career is not a straight line, so open yourself up for new positions as circumstances change. Being able to recalibrate your role and how you can contribute to the business will make you invaluable and afford opportunities you otherwise might have missed. For me, such a chance occurred at a point in my career when I was preparing to go on maternity leave. I was offered the opportunity to move from a portfolio manager role into more of a hybrid position, whereby I would retain a smaller portfolio team but also take on the larger challenge of managing our group’s underwriting efforts. Although it occurred at a point of change in my life, I jumped at the opportunity, and it has since afforded other additional new paths for my career.

What kind of role has mentoring and/or sponsorship played in your career?

Mentoring has been important in my career. One way to accelerate your progress and advancement is to partner up with others within your organization, within the industry, and elsewhere. No one can do it all alone. To succeed, help is essential, and people who have greater experience than you do at the early stages of your career are critical to getting ahead. They can also assist in opening doors for you and introducing you to others.

What do you think the industry could do to attract and retain the best and the brightest today?

We must continue to demonstrate to the younger professionals in our industry that they can actually effect change and have real input and involvement. When anyone sees that their effort moves the ball and contributes to success as part of a team, their sense of commitment and participation will be enhanced. Engaging and retaining top talent requires investing in them. Today’s young professionals actively manage their careers and, if they feel this is echoed in the industry’s support of them as they progress in their careers, it will foster a deeper sense of commitment.

Tell us something about yourself that may surprise people.

I am a huge fan of sports cars and sports, two passions I inherited from my parents.