Wells Fargo appointed several new business leaders and changes designed to create a flatter line of business organizational structure and provide leaders with clear authority, accountability, and responsibility.
The new model has five line of business CEOs, each reporting to Wells Fargo CEO Charlie Scharf and represented on the company’s operating committee.
“The Wells Fargo franchise has extraordinary opportunity and power, and these organizational changes enable us to more effectively pursue our goals and take advantage of the opportunities in front of us,” Scharf said.
