Banking

Wells Fargo taps Bank of America executive as community bank revamp continues

A man uses a Wells Fargo ATM inside a bank branch in New York.
A man uses a Wells Fargo ATM inside a bank branch in New York. Bloomberg

Wells Fargo on Tuesday named a Bank of America executive to a new position overseeing small business, affluent clients and other customer groups as it continues to reshape its community banking business after a massive sales scandal.

Andy Rowe, who will be based in Charlotte, will assume the customer segments position in September. He has held a number of consumer banking roles at Charlotte-based Bank of America, most recently serving as consumer risk executive for consumer products and channels. The Delaware native joined the bank through its 2006 acquisition of credit card giant MBNA.

Andrew Rowe_Color
Wells Fargo has named Andy Rowe the head of its community banking customer segments team. Wells Fargo

Mary Mack, Wells Fargo’s Charlotte-based head of community banking, said in March she was looking to add the consumer segments position, as well as leaders for two other new groups on her team. She picked Laurey Cosentino to lead customer and branch experience and Jonathan Velline as head of business strategy and administration. They both were already with the bank.

Mack took over San Francisco-based Wells Fargo’s retail business last summer shortly before the bank paid $185 million in fines to settle allegations that its employees opened unauthorized customer accounts to meet aggressive sales goals. Since then, she has been making major changes, including eliminating sales goals and announcing plans to eliminate a layer of management.

Rick Rothacker: 704-358-5170, @rickrothacker

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