Wells Fargo’s Chief Risk Officer Mike Loughlin to Retire
January 17 2018 - 01:15PM
Business Wire
Wells Fargo & Company (NYSE: WFC) announced today that
Senior Executive Vice President Mike Loughlin will retire as the
company’s chief risk officer. The company expects to name a
successor in the next few months and Loughlin will remain in his
current role through the transition.
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Mike Loughlin, Wells Fargo Chief Risk
Officer (Photo: Business Wire)
“Mike’s 36 years of service to Wells Fargo have included some of
the most critical times in our company’s history,” said Timothy J.
Sloan, the company’s president and CEO. “From the financial crisis
in 2008, to the company’s merger with Wachovia, to the many
economic and credit cycles we have navigated, Mike has demonstrated
leadership and a commitment to all our stakeholders, especially our
customers, in one of our company’s most critical roles, and for
that we are grateful.”
A direct report of Sloan’s serving on the company’s Operating
Committee, Loughlin has been Wells Fargo’s chief risk officer since
2008, overseeing key risk-oriented activities at the company,
including credit, market risk, operational risk, compliance, and
information security (including cyber risk). Over the past two
years, Loughlin also has led efforts to centralize many of the
company’s risk functions to provide more comprehensive oversight of
the company’s risks.
“It has been a great privilege to serve an American institution
as important and as valued as Wells Fargo,” Loughlin said. “I am
preparing for retirement with enthusiasm for Wells Fargo’s future,
confidence in the work its leaders will continue, and gratitude for
the many customers and colleagues I have had the great pleasure to
know.”
Loughlin joined Wells Fargo in 1986, following the company’s
acquisition of Crocker Bank. Prior to becoming chief risk officer,
Loughlin was responsible for credit approval, policy and reporting
for Wholesale Banking and has held senior roles in Wealth
Management, Corporate Banking, Operations and Middle Market
Banking. Today, he also serves on the board of directors of
Students Rising Above, an organization dedicated to helping
low-income, first-generation college students realize their
potential by guiding and supporting them through college graduation
and into the workforce.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $2 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,
investments, mortgage, and consumer and commercial finance through
more than 8,300 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42
countries and territories to support customers who conduct business
in the global economy. With approximately 263,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 25 on Fortune’s 2017
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells Fargo
Stories.
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version on businesswire.com: http://www.businesswire.com/news/home/20180117006105/en/
MediaRichele Messick,
651-724-5234Richele.j.messick@wellsfargo.comInvestorsJohn
Campbell, 415-396-0523John.m.campbell@wellsfargo.com
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