Wells Fargo & Company (NYSE: WFC) today announced that it has named
Amanda “Mandy” Norton as chief risk officer. Norton, a 29-year financial
services veteran, most recently served as chief risk officer of consumer
and community banking at JPMorgan Chase. Norton will join the company
this summer and will be based in San Francisco. Mike Loughlin, who
announced his plans to retire in 2018, will continue to serve as Wells
Fargo’s chief risk officer until Norton’s employment with the company
begins, ensuring a smooth transition.
“Mandy’s deep experience and proven commitment to the risk discipline
make her an ideal choice for Wells Fargo,” said Timothy J. Sloan, Wells
Fargo’s president and chief executive officer. “She has significant
credit and operational experience, has spent time overseeing both
wholesale and institutional risk, and has extensive consumer experience.
Her track record leading complex risk management environments at large
financial institutions will serve all our stakeholders well.”
As Wells Fargo’s chief risk officer, Norton will oversee all aspects of
the company’s independent corporate risk function and risk oversight
activities, including credit risk, market risk, operational risk,
compliance, information security risk and conduct risk. She will report
directly to Sloan and to the risk committee of the company’s Board of
Directors. She will also serve as a member of the company’s Operating
Committee and as an executive officer. Norton will be instrumental in
driving the company’s efforts to become a leader in risk management, one
of the company’s six goals.
Norton, who spent the first six years of her career at Chase Manhattan
Bank, joined JPMorgan Chase in 2011 as the chief risk officer for home
lending; in 2013 she took on her most recent role, where her
responsibilities included risk oversight for home lending, card
services, auto finance, business banking, consumer banking, and
payments. Previously, she was with Ally Financial serving as a market
and credit risk executive. She also spent 14 years at Bank of America in
various roles. Norton is a board director of the Risk Management
Association. She also volunteers her time with The Financial Clinic and
with the University of Bath Alumni Foundation. At Bath University, she
established a scholarship for female students pursuing mathematical
sciences, and a scholarship for those pursuing a PhD in Mathematics.
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, investments, mortgage, and consumer and
commercial finance through 8,200 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 265,000 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.