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Steven D. Black Elected to Wells Fargo Board of Directors


SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) announced that its shareholders elected Steven D. Black to the company’s Board of Directors at its 2020 annual meeting of shareholders held earlier today. Black has served as co-CEO of Bregal Investments, a private equity firm, since September 2012.

Black has more than 45 years of financial services experience, including at JPMorgan Chase & Co. where he served in leadership positions in its investment banking business. At JPMorgan Chase, he served as vice chairman from March 2010 to February 2011, and he also was a member of the Operating and Executive Committees.

“We are pleased to welcome Steve to the board,” said Charles Noski, Wells Fargo’s board chair. “Steve’s deep knowledge of the financial services industry and financial markets, as well as his expertise in strategy and solving problems gained from advising clients all over the world, will bring valuable insight to our board.”

During his time at JPMorgan Chase, Black held numerous roles including Investment Bank executive chairman from 2009 to 2010; co-CEO of the Investment Bank from 2004 to 2009; Investment Bank deputy co-CEO from 2003 to 2004; and head of the Investment Bank’s Global Equities business from 2000 to 2003. Prior to his time with JPMorgan Chase, Black worked at Citigroup Inc. and its predecessor companies.

“We are fortunate to be able to add Steve to the board,” said Wells Fargo CEO Charlie Scharf. “Our board and management team are working with a sense of urgency to drive important cultural and structural changes at Wells Fargo, and I look forward to working with Steve and the other directors to continue the transformation of our company.”

Black serves on the board of Nasdaq, Inc. He received a bachelor of arts degree in political science from Duke University.

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 ( 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. 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 | Twitter: @WellsFargo.

Arati Randolph, 704-383-6996

Investor Relations
John Campbell, 415-396-0523

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