Wells
Fargo & Company (NYSE: WFC) announced today that effective
immediately it has appointed Mary Mack to head the company’s Consumer
Lending business, in addition to Community Banking, expanding the senior
executive vice president’s responsibilities.
Mack’s new role includes the Community Banking organization, which she
has led since July 2016, and Consumer Lending, which includes Wells
Fargo Home Lending, Wells Fargo Dealer Services and the student lending
and personal lines of credit businesses that make up its Personal
Lending organization. In total, Mack’s new organization employs 115,000
team members and offers a full suite of financial products and services
to consumer and small business customers across the nation.
“By combining Community Banking and Consumer Lending, we are creating a
more holistic approach to delivering retail banking services to our
customers, which will only enhance how we help our customers succeed
financially,” said Tim Sloan, president and CEO. “Mary’s proven
leadership skills, resiliency and the principled way she has driven
change throughout her career have earned her the respect of her
customers, colleagues and teams and the opportunity to lead this
combined organization.”
Mack, a 33-year veteran of Wells Fargo, has led the transformation of
Community Banking, including the elimination of product sales goals for
retail bankers, the implementation of new compensation plans and
training programs for managers and branch personnel, improved monitoring
and controls, comprehensive process improvements to reshape the customer
experience, and restructured regional leadership. All these changes are
focused on rebuilding trust with the retail bank’s key stakeholders and
aligning the focus of its team members with the interests and financial
goals of customers.
Prior to taking on leadership of Community Banking, Mack was head of the
Wells Fargo Advisors retail brokerage business. In her new role, Mack
will continue to serve on the company’s Operating Committee and report
to Sloan.
“I am incredibly excited about this opportunity to bring together these
talented teams with a common purpose to provide the best in financial
service and advice to our customers,” said Mack. “I look forward to
engaging with the team as we chart the path forward to deliver
exceptional experiences and value to our customers.”
In addition to Community Bank leaders, Consumer Lending leaders
reporting directly to Mack include Michael DeVito, interim leader of
Wells Fargo Home Lending, the country’s largest mortgage operation;
Laura Schupbach, head of Wells Fargo Dealer Services; and John
Rasmussen, head of Personal Lending.
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, insurance, investments, mortgage, and
consumer and commercial finance through more than 8,400 locations,
13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 42 countries and territories to support customers who conduct
business in the global economy. With approximately 268,000 team members,
Wells Fargo serves one in three households in the United States. Wells
Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of
America’s largest corporations. News, insights and perspectives from
Wells Fargo are also available at Wells Fargo Stories.
