Wells Fargo appoints new chief auditor

by Duffie Osental07 Feb 2019

Wells Fargo has announced the appointment of Julie Scammahorn as its chief auditor. She joins Wells Fargo after a stint at Citigroup N.A., where she had direct audit responsibility for anti-money laundering and compliance.

As Wells Fargo’s new chief auditor, Scammahorn will lead the audit services organization of approximately 1,350 team members who deliver internal audit services, such as assessments and credible challenge regarding the company’s governance, risk management, and control functions.

Scammahorn will be based in San Francisco, where she will report to CEO and President Tim Sloan and to the audit and examination committee of Wells Fargo’s board of directors. She will also serve as a member of the company’s operating committee.

“Julie brings significant experience and a proven track record to this role, having led large audit functions for global financial services institutions,” said Sloan. “Her leadership will ensure the continued strength of our audit function as we work to achieve our goal of having the most effective risk management in the industry. In addition, I want to thank Kim Bordner for serving effectively as acting chief auditor during the transition period.”

Prior to Citigroup, Scammahorn was general auditor and senior vice president at American Express. She has held audit services leadership roles at Bank of America and worked at Meritus Research, a hedge fund research company. Scammahorn is a veteran of the United States Marine Corps.