off-the-wire

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

Kitco Media
By Reuters
Published:
Updated:
Reuters
Wells Fargo names former JPMorgan executive as co-head of investment bank teaser image

May 8 (Reuters) - Wells Fargo (WFC.N), opens new tab named former JPMorgan Chase (JPM.N), opens new tab 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.

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.

Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri

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