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Wells Fargo names former JPMorgan executive as co-head of investment bank

Published 05/08/2024, 08:53 AM
Updated 05/08/2024, 10:23 AM
© Reuters. FILE PHOTO: The logo and trading information for Wells Fargo are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2016.  REUTERS/Brendan McDermid/File Photo
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(Reuters) -Wells Fargo named former JPMorgan Chase (NYSE:JPM) executive Fernando Rivas as co-CEO of its corporate and investment banking (CIB) on Wednesday, as it looks to expand market share on Wall Street.

Rivas most recently served as the head of North American investment banking at JPMorgan. His career at the largest U.S. bank by assets spanned nearly 30 years.

© Reuters. FILE PHOTO: The logo and trading information for Wells Fargo are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2016.  REUTERS/Brendan McDermid/File Photo

Wells Fargo said Rivas will join the lender's operating committee effective immediately and report to the bank's CEO Charlie Scharf.

He takes on the role alongside Jon Weiss, who has been CIB's CEO since February 2020.

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