Wells Fargo & Company has announced a leadership change at its Consumer Banking and Lending division. Kleber Santos will now serve as CEO of Wells Fargo Consumer Banking and Lending (CBL). Meanwhile, Saul Van Beurden will focus exclusively on leading AI across Wells Fargo. The bank shared the update through Business Wire today.
Until now, the two executives have shared the role of co-CEOs of CBL. They have held that joint position since the division’s formation last year. Besides that, Van Beurden established the company’s AI efforts and has led them ever since. As a result, he has carried two major responsibilities at the same time. Under the new structure, each leader will concentrate on a single priority.
“We have significant opportunities to grow our consumer businesses and to use AI to transform how we operate and serve our customers,” said Charlie Scharf, Chairman and CEO of Wells Fargo. “Kleber and Saul have built strong momentum in both areas, and having each focus fully on these priorities will help us accelerate that progress.”
Kleber Santos Takes Full Charge of Consumer Banking and Lending
Santos will assume full responsibility for CBL. In doing so, he will build on the growth the division has already achieved. That growth spans Consumer Deposits, Credit Cards, Business Banking, and Auto lending. Therefore, the Kleber Santos CEO appointment keeps the spotlight on the bank’s core consumer businesses.
Saul Van Beurden to Drive Enterprise AI Adoption
Van Beurden will focus in turn on building Wells Fargo capabilities for enterprise-scale AI adoption. He will work closely with the head of Technology, Bridget Engle, for this purpose. He will also work with the company’s business leaders. They will work together to drive change across the company. Also, Van Beurden will strengthen the company’s work with leading AI firms. So Wells Fargo AI leadership now has a dedicated executive at the helm.
Despite the change in roles, the reporting lines remain the same. Both executives will continue to report to Scharf. Additionally, both will keep their seats on Wells Fargo’s Operating Committee. Overall, the announcement shows that Wells Fargo wants focused leadership for both consumer growth and AI.
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: Businesswire.com
