Wells Fargo Corporate Risk Announces Enhanced Organizational Structure and New Leaders
May 29 2020 - 12:22PM
Business Wire
Wells Fargo & Company (NYSE: WFC) today announced the
appointment of two new Corporate Risk leaders and an enhanced
organizational structure designed to provide greater oversight of
all risk-taking activities and a more comprehensive view of risk
across the company. The new risk model will have five
line-of-business Chief Risk Officers (CROs) along with other teams
aligned by risk type, each reporting to Wells Fargo CRO Mandy
Norton.
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Bill Juliano, Chief Operational Risk
Officer (Photo: Business Wire)
“This enhanced organizational structure will strengthen our risk
management program, provide greater consistency in how we manage
risk across our businesses, and better position us for the future,”
said Norton. “We have made – and continue to make – transformative
changes to our risk management structure and practices, including
important work to provide greater oversight of all risk-taking
activities and a more comprehensive view of risk across the
company. These organizational changes further those efforts and
increase our ability to effectively execute our top priorities,
including our critical risk, regulatory, and control work.”
As part of these changes, Kevin Reen, who most recently served
as JPMorgan’s CRO for its Card Services business, will join Wells
Fargo in August as CRO of Consumer Lending and will report to
Norton. The company will conduct a search for the new CROs for its
Commercial Banking, Consumer & Small Business Banking,
Corporate & Investment Banking, and Wealth & Investment
Management businesses.
In addition, Bill Juliano, who most recently served as Consumer
and Business Banking CRO and U.S. Chief Operational Risk Officer at
Santander Bank, will join Wells Fargo in July to lead the
Operational Risk Management team, reporting to Norton. Other teams
organized by risk type and governance will continue to report to
Norton. In addition, due to the criticality of the function,
Enterprise Testing will be elevated to a direct report to Norton
after a search for a new leader is complete.
“Kevin and Bill bring extensive experience and leadership to
these significant roles. They will be a vital part of my leadership
team as we continue to strengthen and transform our risk program
under this new organizational structure,” said Norton.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.98 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 7,400 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 263,000
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200529005545/en/
Media Peter Gilchrist, (704) 715-3213
Peter.gilchrist@wellsfargo.com
Investor Relations John Campbell, (415) 396-0523
john.m.campbell@wellsfargo.com
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