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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wells Fargo and Company | NYSE:WFC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.34 | 0.57% | 60.28 | 60.878 | 60.08 | 60.47 | 6,335,682 | 17:50:32 |
New Chief Compliance Officer, Chief Risk Officers and leader for Enterprise Testing & Validation named, reporting to Corporate Chief Risk Officer
Wells Fargo & Company (NYSE: WFC) today announced the appointment of six new Corporate Risk leaders as part of its enhanced Risk model to further strengthen the independent oversight of all risk-taking activities and a more comprehensive view of risk across the company. In addition, the company announced that Mike Roemer, the current Chief Compliance Officer, has decided to leave Wells Fargo following a transition period.
“Our new model will strengthen our centralized, independent risk management program, provide greater consistency in how we manage risk across our businesses, and better position us for the future,” said Chief Risk Officer (CRO) Mandy Norton.
The model consists of five line-of-business CROs, along with other teams aligned by risk type, each reporting to Norton. The new leaders, who will all report to Norton, are:
The new CROs will each provide independent, holistic risk leadership and oversight for their respective business lines and functional areas, creating streamlined interaction with independent risk management and a comprehensive view of risks across each of the businesses. The CROs will work in strong partnership with leaders who will continue to oversee market, credit, operational, compliance, strategic, and model risk holistically across the entire company.
“These new leaders bring impressive experience, diverse insights, and strong leadership skills to their roles,” said Norton. “They will each play an important part on the risk leadership team under our newly enhanced organizational structure as we strengthen our independent risk management function and better position how we manage risk for the future.”
The new leaders were named following the May 2020 announcement of the enhanced Corporate Risk model, which noted that Kevin Reen would join Wells Fargo as CRO of Consumer Lending and that Bill Juliano would join Wells Fargo as chief operational risk officer. A search for the new CRO for Corporate & Investment Banking remains underway.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.97 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,300 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200813005834/en/
Media Beth Richek, 704-374-2545 Beth.Richek@wellsfargo.com
Investor Relations John Campbell, (415) 396-0523 john.m.campbell@wellsfargo.com
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