SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC) announced that Corporate Treasurer Paul Ackerman will take a role in Wells Fargo Securities as vice chairman and senior banker responsible for serving global financial institutions. In this position, Ackerman will leverage his extensive financial and capital management experience to provide counsel and guidance to global financial institution customers – banks, insurance companies, asset management companies and specialty finance companies – that represent a major area of focus for Wells Fargo Securities.
Company veteran Neal Blinde, head of the Depositories Investment Banking Group for Wells Fargo Securities, will become Corporate Treasurer, responsible for managing Wells Fargo’s capital, liquidity and funding along with its annual Comprehensive Capital Analysis and Review (CCAR). Blinde has provided investment banking services to bank clients, including Wells Fargo, a role in which he worked closely with Wells Fargo’s Treasury department. While the two appointments are effective immediately, Ackerman and Blinde will work together in the coming months to ensure a smooth transition.
“Today’s appointments reflect two of Wells Fargo’s durable strengths: the depth of our leadership team and the ability of leaders to seamlessly transition into important roles at our company to benefit customers and key stakeholders,” said Wells Fargo CEO John Stumpf. “Paul has done an outstanding job for the company and shareholders over the past 10 years as our Treasurer and is uniquely qualified for this important new role, where his deep experience will benefit our financial institution customers around the globe. We are pleased to have someone as capable and qualified as Neal, who has done a great job of serving the capital and funding needs of our bank clients, and those of Wells Fargo, to continue the tradition of strong treasury leadership at Wells Fargo.”
In his new role, Ackerman will report to Rob Engel, head of Investment Banking and Capital Markets for Wells Fargo Securities, and will remain in the bank’s San Francisco headquarters.
“Paul and his team have delivered very strong results over the past decade, and the company will continue to benefit from his knowledge and skills as he works closely with some of our largest customers around the world, including Wells Fargo,” said Tim Sloan, head of Wholesale Banking, which includes Wells Fargo Securities. “We are fortunate to have someone of Paul’s caliber join the Wells Fargo Securities team, and I look forward to his continued success in a role that enables him to further broaden his experiences at our company.”
Ackerman joined Wells Fargo in 1990 and was appointed Corporate Treasurer in 2005. He received his bachelor of arts in business administration and economics from Bethel University in Minnesota and his MBA from the University of Minnesota.
In his role as Corporate Treasurer, Blinde will report to CFO John Shrewsberry and remain based in Charlotte, North Carolina. During his 14-year tenure at Wells Fargo, Blinde has been instrumental in building Wells Fargo Securities’ capabilities in providing investment banking services to financial and depository customers.
“Throughout Neal’s career he has demonstrated high-caliber leadership and a deep understanding of financial and business operations, so we’re delighted he can now bring that expertise and experience to a key position within Wells Fargo,” Shrewsberry said. “Neal was instrumental in launching the Depositories Investment Banking Group at Wells Fargo Securities to serve the needs of depository institutions globally. His extensive knowledge of capital, funding, and treasury functions, combined with his past experience serving Wells Fargo as a client, will provide strong continuity.”
Prior to joining Wells Fargo, Blinde worked within the asset management division of American Express (now Ameriprise Financial). Blinde is a Chartered Financial Analyst. He earned his bachelor of science in business and accounting from the University of Minnesota and his MBA from Georgetown University.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 12,800 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially.
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.