Mike Weinbach to Join Wells Fargo to lead Consumer Lending

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo announced today that Mike Weinbach will join the company as CEO of Consumer Lending in early May, reporting to CEO Charlie Scharf and based in New York. Weinbach will have responsibility for Home Lending, Auto, Credit Cards & Merchant Services, and Personal Loans.

“I’m delighted that we’ve been able to attract someone with Mike’s experience, skills and knowledge to Wells Fargo,” said Scharf. “He has a broad range of experiences in the consumer space and will be a great addition to our management team. We are one of the largest providers of consumer credit in the country and want to continue serving that important role for our customers and the U.S. economy.”

Weinbach joins Wells Fargo after 16 years at JPMorgan Chase where he was most recently CEO of Chase Home Lending. Previously at Chase he held leadership roles across Consumer Banking, Business Banking, Home Lending and Auto Finance in sales, finance, branch management and operations. Before joining Chase, he founded a business focused on workplace motivation and held positions at Citigroup. He is a graduate of the Wharton School at the University of Pennsylvania and earned his MBA at Harvard Business School.

“I am excited to join Wells Fargo and appreciate the opportunity to work with this remarkable franchise that serves over 70 million customers,” said Weinbach. “I am passionate about providing outstanding customer experiences and helping customers live better lives. I am eager to work with the Wells Fargo team to do just that.”

Reporting to Weinbach will be Michael DeVito, head of Home Lending; Laura Schupbach, head of Wells Fargo Auto; Ray Fischer, head of Credit Cards & Merchant Services; and John Rasmussen, head of Personal Loans.

Until Weinbach joins Wells Fargo, Mary Mack will oversee Consumer Lending on an interim basis in addition to her ongoing role as CEO of Consumer and Small Business Banking.

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 7,400 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 260,000 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. Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.