Wells Fargo names CEO of consumer lending

by Candyd Mendoza13 Feb 2020

Wells Fargo has named former JPMorgan Chase exec Mike Weinbach as the CEO of consumer lending.

Weinbach, who most recently served as CEO of Chase Home Lending, will focus on Wells Fargo’s home lending, auto, personal loans, credit cards, and merchant services. At Chase, Weinbach has held various leadership positions across consumer banking, business banking, home lending, and auto finance in sales, finance, branch management, and operations.

“I’m delighted that we’ve been able to attract someone with Mike’s experience, skills, and knowledge to Wells Fargo,” said Wells Fargo CEO Charles Scharf. “He has a broad range of experiences in the consumer space and will be a great addition to our management team. We are one of the largest providers of consumer credit in the country and want to continue serving that important role for our customers and the US economy.”

Interim CEO Mary Mack will continue to oversee consumer lending until Weinbach assumes the role. Mack also serves as the CEO of the company’s consumer and small business banking.

“I am excited to join Wells Fargo and appreciate the opportunity to work with this remarkable franchise that serves over 70 million customers,” Weinbach said. “I am passionate about providing outstanding customer experiences and helping customers live better lives. I am eager to work with the Wells Fargo team to do just that.”