“Charlie has demonstrated a robust monitor report in initiating and main change, driving outcomes, strengthening operational threat and compliance, and innovating amid a quickly evolving digital panorama,” Wells Fargo Chair Betsy Duke stated in an announcement.
San Francisco-based Wells Fargo stated that Scharf will probably be positioned in New York, the place he has household.
“I’m honored and energized by the chance to imagine management of this nice establishment, which is essential to our monetary system and within the midst of basic change,” Scharf stated in an announcement.
Scharf additionally had stints on Wall Avenue. He served as managing director at JPMorgan Chase’s personal funding arm and as a senior government at Citigroup and Salomon Smith Barney.
Wells Fargo stated that after Scharf takes over, Allen Parker, presently the interim CEO, will stick with the financial institution in a management position and as common counsel.