Wells Fargo: New Risk Management Hires, Strategy

Kevin Reen and Bill Juliano, who recently worked for J.P.Morgan Chase[6] and Santander Bank[7] respectively, will now serve as Wells Fargo[8]‘s new corporate risk leaders, in the company’s attempt to have better oversight going forward.

The new hires are part of an initiative to add five new chief risk officers (CRO), one each for the specific fields of Commercial Banking, Consumer & Small Business Banking, Corporate & Investment Banking, and Wealth & Investment Management businesses, a press release states.

Reen[9], the press release says, worked until recently as CRO for J.P.Morgan’s Card Services business. For Wells Fargo, he will act as the CRO for Consumer Lending.

Juliano[10], previously the Consumer and Business Banking CRO and U.S. Chief Operational Risk Officer at Santander Bank, will serve as the leader of the Operational Risk team for Wells Fargo.

Both men, along with the other CROs when hired, will report to Wells Fargo CRO Mandy Norton[11].

Norton, in the press release, says the new hires, and the upcoming ones not yet announced, would “better position [the bank] for the future.”

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