Richard B. Payne Jr. Elected to Wells Fargo Board of Directors
October 17 2019 - 4:15PM
Business Wire
Wells Fargo & Company (NYSE: WFC) today announced that
Richard (Dick) Payne Jr. has been elected to the company’s Board of
Directors, effective immediately, and will serve on the Board’s
Credit Committee. Payne retired in 2016 as vice chairman of
Wholesale Banking at U.S. Bancorp.
Payne has more than 40 years of corporate and commercial banking
experience with large financial institutions. At U.S. Bancorp, he
served from 2010 to 2016 as vice chairman of Wholesale Banking and
had responsibility for national corporate banking, commercial
banking, capital markets, commercial real estate, financial
institutions, equipment finance, global treasury management,
government and nonprofit banking, leveraged lending, specialty
finance, and high-grade fixed income businesses. He was vice
chairman of Corporate Banking at U.S. Bancorp from 2006 to
2010.
Prior to joining U.S. Bancorp, he was head of capital markets at
National City Corporation and served in various corporate banking
and leadership roles for predecessor companies of Wells Fargo, Bank
of America, and JPMorgan Chase, as well as Morgan Stanley.
“Dick is a seasoned banking professional who has spent most of
his career in corporate and commercial banking, serving
middle-market and large corporate customers in many of the same
geographic markets and businesses served by Wells Fargo,” said
Betsy Duke, Wells Fargo’s board chair. “He has a deep understanding
of banking and brings a unique and valuable perspective to the
Board as Wells Fargo works to provide exceptional service to its
customers and meet the expectations of all of our stakeholders. He
is an important addition to our board as we oversee Wells Fargo’s
continued transformation. We welcome him to Wells Fargo.”
Charlie Scharf, who will become Wells Fargo’s CEO and president
on Oct. 21, said, “Dick is a veteran of the banking industry and an
experienced leader with extensive knowledge of the bank regulatory
environment for large financial institutions. He has credit
expertise and complete familiarity with the opportunities and
challenges associated with building customer relationships within
wholesale banking businesses. Dick brings important insight and
capabilities to our Board, and I look forward to working with him
and our other directors.”
Payne is a member of the Board of Trustees at the Mint Museum in
Charlotte, North Carolina, and is a member of the National Advisory
Board of the Walker Art Center in Minneapolis.
Richard B. Payne Jr. biography
Payne served as vice chairman of Wholesale Banking at U.S.
Bancorp from November 2010 until he retired in April 2016 and as
vice chairman of Corporate Banking at U.S. Bancorp from July 2006
to November 2010. During his time at U.S. Bancorp, Payne was a
member of the managing committee and other senior management
committees, the U.S. Bank Foundation and U.S. Bancorp’s “Proud to
Serve” Veterans network. He also was a board member of the
Securities Industry and Financial Markets Association and a member
of the Financial Services Roundtable. Prior to joining U.S.
Bancorp, he served as executive vice president for National City
Corporation, with responsibilities for capital markets, from 2001
to 2006. Payne served from 1999 to 2001 as a managing director,
Forest and Paper Products, for First Union Corporation (a Wells
Fargo predecessor) and in various roles of increasing
responsibility in corporate banking at NationsBank Corporation and
NCNB Corporation (Bank of America predecessors) from 1991 to 1999.
He also worked in the corporate finance group at Morgan Stanley,
and was head of the multinational and agribusiness groups, and
staff assistant to the chairman and CEO, at Chemical Banking
Corporation (a JPMorgan Chase predecessor). Prior to his banking
career, Payne served for over two years as a supply officer in the
U.S. Navy. He received his BA from the University of Virginia and
an MBA from Harvard Business School.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 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 7,500 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 32 countries and territories to support customers who
conduct business in the global economy. With approximately 261,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 29 on
Fortune’s 2019 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: https://www.businesswire.com/news/home/20191017005781/en/
Media Arati Randolph, 704-383-6996
arati.randolph1@wellsfargo.com
Jennifer Langan, 213-598-1490
jennifer.l.langan@wellsfargo.com
or
Investor Relations John Campbell, 415-396-0523
john.m.campbell@wellsfargo.com
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