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Prior to joing Meriturn Partners in 2002, Mr. Gillfillan spent 31 years in banking
and finance positions, with extensive leadership experience in troubled
debt restructuring, turnaround management, and strategic finance issues
dealing with capital structure and capital adequacy.
Mr. Gillfillan spent more than 25 years with Wells Fargo & Company
(NYSE: WFC), most recently serving as its Vice-Chairman and Chief Credit
Officer. His career with the bank was focused principally on its credit
portfolio, but also included senior leadership positions in marketing,
management, and administration, as well as direct responsibility for
the bank's problem loan portfolio from 1986 to 1999. In 1991, Mr. Gillfillan
was promoted to Vice Chairman and Chief Credit Officer and became a
member of the bank's Senior Management Committee. He also served as
Vice Chairman and head of the Corporate and Commercial Banking Groups,
where he was responsible for the bank's investments in private equity
partnerships. During that time, Mr. Gillfillan also successfully founded
a bank sponsored SBIC, as well as an agricultural investment partnership.
As head of the bank's loan workout group (LAG), he directly led or
managed Wells Fargo's strategic efforts in troubled debt restructuring,
including those related to the LDC international loan crisis, aggressive
LBO activity in the late 1980's, and real estate liquidity problems
in the early 1990's. He was an early adopter of the distressed debt
sales market. Mr. Gillfillan's first turnaround and restructuring assignment
with Wells Fargo was in 1984 as CEO of Wells Fargo Ag Credit, a troubled
finance subsidiary of Wells Fargo. He successfully restructured the
subsidiary, and positioned it for a profitable sale.
Currently, Mr. Gillfillan is a member of the Board of Directors of James
Hardie Industries (NYSE: JHX) and UnionBanCal Corp. (NYSE: UB), the holding
company for Union Bank of California. Mr. Gillfillan earned a BA in History
from the University of California at Berkeley and an MBA from the University
of California at Los Angeles.
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