Wells Fargo Co - WFC STOCK NEWS

Wells Fargo (NYSE: WFC) announces the retirement of Bill Mayer after 34 years in the financial industry, having led Wells Fargo Equipment Finance (WFEF) since 2015. Amrita Patel will take over as head of WFEF, bringing extensive experience from her previous leadership roles including head of Process Transformation. Patel's focus will be on innovative financial solutions in a changing economy. Wells Fargo continues to be a significant player in the financial services sector with approximately $1.9 trillion in assets, serving U.S. households and small businesses.

Wells Fargo (NYSE: WFC) is reinstating its diverse candidate slate guidelines after a review period, effective August 19. The changes aim to simplify the hiring process and improve candidate experience. Key highlights include maintaining a 50% diverse candidate slate, redefining job roles based on levels, and enhancing training for recruiters. The company reports significant increases in diverse hiring, with 2021 U.S. external hiring up 17% and diverse hires rising by 27% compared to 2020. These guidelines are expected to further bolster Wells Fargo's commitment to diversity.

Wells Fargo (NYSE: WFC) has announced a quarterly common stock dividend of $0.30 per share, reflecting an increase of $0.05 from the previous quarter. The dividend is payable on September 1, 2022, to stockholders of record as of August 5, 2022. This announcement highlights the company’s commitment to returning value to shareholders amidst its operations as a leading financial services provider with approximately $1.9 trillion in assets.

Wells Fargo Advisors has expanded its New York Madison Avenue branch by welcoming Yakub Mathew as Managing Director – Investments. Mathew brings over 34 years of wealth management expertise and aims to enhance services for Ultra High Net Worth clients, specifically targeting the South-Asian market. Prior to joining Wells Fargo, Mathew held key positions at Citi Private Bank and HSBC. As of March 31, 2022, Wells Fargo Advisors manages $1.88 trillion in client assets, serving a vast clientele across the U.S.

Wells Fargo has appointed Mary Katherine DuBose as the head of its secured lending division, which includes asset-based lending, equipment finance, supply chain finance, and inventory finance. Reporting to Kyle Hranicky, CEO of Wells Fargo Commercial Banking, DuBose brings over 20 years of banking experience to the role. Previously, she served as the chief credit officer and held various leadership positions within the bank. This strategic move aims to enhance the bank's lending capabilities and client services globally.

Wells Fargo (NYSE: WFC) announced its second quarter 2022 financial results, detailed on their investor relations page. The company serves approximately 1 in 3 U.S. households, boasting assets of about $1.9 trillion. A live conference call is scheduled for July 15, 2022, at 10:00 a.m. Eastern, providing insights into the company's performance and outlook. Additional resources, including a replay of the call, will be available online. This reflects Wells Fargo's position as a leading financial services provider in the U.S., committed to supporting economic growth and sustainability.

Wells Fargo has appointed Kleber Santos as CEO of Consumer Lending, effective immediately. Santos, previously head of Diverse Segments, Representation and Inclusion since November 2020, will oversee all Consumer Lending operations, including Home Lending, Auto, and Credit Cards. He succeeds Mike Weinbach, who will depart in mid-September after two years leading the Consumer Lending initiative. Santos, bringing extensive experience from Capital One, aims to drive growth and improve the division's performance.