Wells Fargo Names Ed Olebe as Head of Cards and Merchant Services

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) announced today that Ed Olebe has been named the company’s new head of Cards and Merchant Services, effective immediately. Olebe joins Wells Fargo from JPMorgan Chase, where he served as president of Branded Cards.

“Ed’s industry expertise and deep experience will be invaluable to Wells Fargo as we continue to grow our credit card business and expand our payment capabilities across Merchant Services,” said Kleber Santos, CEO of Consumer Lending.

Olebe brings more than 25 years of financial services and credit card experience to Wells Fargo. Before his role as president of Branded Cards at JPMorgan Chase, he led Chase’s Co-Branded Cards, Ultimate Rewards and Loyalty Services, and Digital for Cards, Auto, and Home Lending. Prior to Chase, Olebe was co-founder and CEO of Grasp Mobile Commerce. Earlier in his career, he also worked at Mastercard, where he held leadership roles in digital payments and consumer credit, and with American Express, where he directed products and partnerships.

Olebe succeeds Ray Fischer, who last year informed leadership of his decision to retire. Since joining Wells Fargo in 2019, Fischer has transformed the credit card business, driving the launch of the company’s new suite of credit card products that offer value and simplicity, as well as the Merchant Services business, ensuring Wells Fargo has the core capabilities to offer best-in-class card payment solutions to businesses of all sizes.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune’s 2024 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com
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News Release Category: WF-LO