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Weston Nellius, former secretary of finance

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Weston Nellius, former secretary of finance

Deacon “Pete” Weston Nellius, 88, passed away Sunday, May 26, 2024.  

He was born in Philadelphia and a product of Ridley High School, he enlisted in the U.S. Air Force, where he met and married Ann Nellius (nee Williams). After his service, they settled in Camden, Ark., to be near family. Growing restless with his career prospects, he gave up the security of a factory job, moving his wife and three small children to go to college in Huntsville, Texas. Working two jobs as a head resident of a men’s dormitory and nights as a prison guard, he managed a full-time course load and matriculated with a bachelor’s degree in accounting and a master’s degree with honors. He earned a fellowship at Southern Illinois University, where he completed his PhD coursework in economics. 

This academic foundation led to a career in state government, beginning as a budget analyst and progressing to deputy director of the Illinois Department of Transportation. The State of Illinois sponsored his attendance at Harvard Advanced Management Program, where he studied with global leaders in the commercial and government sectors and first met Pete du Pont. He later was recruited by the newly elected Governor du Pont to become secretary of finance for the State of Delaware. The administration partnered with the state legislature to transform the Delaware economy, passing the Financial Center Development Act to make Delaware a major banking hub, and adding a Balanced Budget Amendment to the state constitution to ensure the long-term fiscal health of the state. After leaving state employment, Pete continued to serve on numerous councils and commissions for governors Mike Castle, Tom Carper, Ruth Ann Minner, John Carney, and Jack Markell. 

Pete subsequently moved to the private sector to join Burris Foods in Milford as its chief financial officer, and then chief operating officer. He closed his career by founding a lobbying and financial consultancy, Nellius Management Associates. 

His separation from the public sector coincided with an increasing focus on his spirituality and the parish community. He was ordained by Bishop Saltarelli of the Diocese of Wilmington in 2001, serving first as a deacon for Holy Cross Parish in Dover, then St. Edmond in Rehoboth. 

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Pete is survived by his three children, Peter Nellius (Lisa), Dan Nellius (Jenny) and Becky Gravatt (Kevin); and his niece, Kelly Nellius. He is also survived by eight grandchildren, Julie Dolbey (Chris), Jeffrey and Joseph Gravatt, Michael, Matthew and Caroline Nellius, and Peter (Alyson) and Natalie Nellius. He is also survived by three loving great-grandchildren, Kennedy and Christian Dolbey, and Kit Nellius.

Pete was a private pilot who loved flying. He constantly looked for ways to share God’s love in ways big and small, and had a smile for everyone he met.

A Mass of Christian Burial will be held at 1 p.m., Thursday, June 6, at Holy Cross Church, 631 South State St., Dover, with a viewing from 11 a.m. to 12:30 p.m.

In lieu of flowers, the family suggests those who wish to express their love consider donations to Metavivor, metavivor.org, for breast cancer research in honor of Ann and Kathy Nellius, whom he dearly loved and who were taken too early by this tragic disease.

Letters of condolences can be sent via pippinfuneralhome.com.

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Finance

Simply Asset Finance reaches $2.6bn loan origination milestone in 2025

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Simply Asset Finance reaches .6bn loan origination milestone in 2025

Simply Asset Finance has reported that its total loan origination reached £2bn ($2.6bn) in 2025, following its growth and lending activity during the period.

During 2025, the company’s gross loan book increased to £543m and its customer base grew to 13,000.

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Additional digital platforms came online, and commercial loans were added to the range of available finance solutions.

Improvements in the company’s own technology and stronger results in various regions contributed to increased efficiency in lending operations and a broader local presence for SME clients.

In July, Simply Asset Finance introduced Kara, an AI-powered virtual agent.

Kara uses the company’s past data to enhance user interactions, streamline internal processes, and speed up decisions on lending applications.

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Simply Asset Finance CEO Mike Randall said: “Our growth this year has built on the momentum of 2024, and reaching £2bn is a clear milestone for the business. All our channels have driven that progress, with rising demand for specialist lending helping us expand our footprint and support even more SMEs across the UK.

“Despite a year of challenging economic conditions, small businesses have remained resilient and ready to invest. Kara has been central to meeting demand quickly and efficiently –  and we expect her value to our customers will only grow.

“As we head into 2026, we’re focused on carrying this momentum forward and working with even more brilliant businesses to unlock their potential.”

Last month, Simply Asset Finance became a Patron lender of the National Association of Commercial Finance Brokers (NACFB).

This partnership is aimed at supporting the broker community in the UK and increasing access to asset finance and leasing products through wider distribution. 

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The NACFB is known as an independent UK trade association for commercial finance intermediaries, promoting cooperation between lenders and brokers across the sector.

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Baker McKenzie Welcomes Finance & Projects Principal Matthias Schemuth in Singapore | Newsroom | Baker McKenzie

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Baker McKenzie Welcomes Finance & Projects Principal Matthias Schemuth in Singapore | Newsroom | Baker McKenzie

Baker McKenzie today announced that leading project finance lawyer Matthias Schemuth has joined the Firm’s Singapore office* as a Principal and Asia Pacific Co-Head of Projects in its Finance & Projects practice, alongside Partner Jon Ornolffson in Tokyo.

Matthias joins the Firm from DLA Piper, bringing more than 20 years of experience in the energy and infrastructure sectors across Asia Pacific. He advises sponsors, developers, commercial banks, multilateral lending agencies, and export credit agencies on the structuring and financing of large-scale projects. His practice also spans international banking, structured commodity and trade finance, with a strong focus on emerging markets. Matthias has been consistently recognised by Chambers Asia Pacific and Who’s Who Legal as a leading project finance practitioner.

James Huang, Managing Principal of Baker McKenzie Wong & Leow in Singapore, said: “We are excited to welcome Matthias to our team. His expertise and proven record in managing teams will be invaluable as we expand our regional and global finance offerings for clients.”

Emmanuel Hadjidakis, Asia Pacific Chair of Baker McKenzie’s Banking & Finance Practice, commented: “Asia Pacific is seeing strong momentum in infrastructure development, energy transition investments, and cross-border project financing, much of it centred in Singapore. Having Matthias on board will further enhance our ability to help clients seize opportunities in the region’s evolving energy and infrastructure markets.”

Steven Sieker, Baker McKenzie’s Asia Chief Executive, added: “Matthias’s appointment underscores Baker McKenzie’s continued commitment to investing in exceptional talent across key markets to support our clients in navigating today’s increasingly complex business and regulatory environment.”

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Matthias said: “I’m thrilled to join Baker McKenzie and contribute to its strong growth in Asia Pacific. The Firm’s global reach and local depth provide an unparalleled platform for delivering innovative projects and financing solutions to clients in this dynamic region.”

With more than 2,700 deal practitioners in more than 40 jurisdictions, Baker McKenzie is a transactional powerhouse. The Firm excels in complex, cross-border transactions; over 65% of our deals are multijurisdictional. The teams are a hybrid of ‘local’ and ‘global’, combining money-market sophistication with local excellence. The Firm’s Banking & Finance lawyers are ranked in more jurisdictions than any other firm by Chambers.  

Matthias’s hire continues the expansion of Baker McKenzie’s global team. His joining follows the recent arrivals of Carole Turcotte in Toronto; Tom Oslovar in Palo Alto; Jenny Liu in New York and Palo Alto; Helen Johnson, Mark Thompson, Nick Benson, Kevin Heverin, James Wyatt and Michal Berkner in London; Jan Schubert in Frankfurt; Todd Beauchamp and Charles Weinstein in Washington DC; Dan Ouyang, Winfield Lau, and Ke (Ronnie) Li in Beijing, Shanghai, and Hong Kong; and Alexander Stathopoulos in Singapore.

*Baker McKenzie Wong & Leow is the member firm of Baker McKenzie in Singapore

 

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Finance

3 finance stocks to buy on rising 10-year Treasury rates

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3 finance stocks to buy on rising 10-year Treasury rates
The Federal Reserve gave investors an early Christmas present by lowering interest rates by 25 basis points (i.e., 0.25%) marking its third rate cut this year. In the past, a change like this in the “long end” of the interest rate yield curve has triggered a predictable, investable pattern. Typically, this pattern would be bearish for finance stocks, particularly banks—investors would buy bank stocks when rates rose and sell them as rates fell….
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