- Wells Fargo (NYSE:WFC) names Derek Flowers as the company's new chief risk officer, effective immediately.
- This appointment follows former chief risk officer Mandy Norton's retirement, who became Wells Fargo’s CRO in 2018.
- Flowers has served in many risk management and business roles at Wells Fargo. Most recently, he served as head of strategic execution and operations following his stint as company's chief market risk officer and its chief credit officer.
- "Building a risk and control foundation appropriate for Wells Fargo's size and complexity remains our top priority, and Derek’s background and familiarity with the company – built on a 24-year career at Wells Fargo – make him the ideal candidate to succeed Mandy Norton following her retirement," comments CEO Charlie Scharf.
- Seeking Alpha contributor Yiannis Zourmpanos writes "Wells Fargo: Off To A Great Start In 2022 And Expected To Go Strong"