Bringing you live news and features since 2006 

New Wells Fargo Wealth & Investment Management CEO named


Wells Fargo & Company has appointed Barry Sommers as CEO of Wealth & Investment Management (WIM(, effective 22 June, reporting to CEO Charlie Scharf. Sommers will have responsibility for the company’s delivery of wealth management, investment, and retirement products and services to clients through its US-based businesses, including Wells Fargo Advisors, Private Wealth Management — comprised of The Private Bank and Abbot Downing — and Wells Fargo Asset Management. He will become a member of the company’s Operating Committee.

“Barry is a proven leader with deep experience in wealth management. He knows asset management, brokerage, and private banking intimately and also what it takes to build a successful wealth management business inside a large bank. His experience, knowledge, and energy will be welcome as we continue our transformation,” says Scharf.

Until April 2019, Sommers was CEO of Wealth Management at JPMorgan Chase, where he was responsible for its private bank and brokerage businesses. Sommers also served as CEO of the Consumer Bank, where he managed the bank branch network. Before that, he spent time as the CEO of Chase Wealth Management, where he helped build the Chase Private Client Services business. He also served as the CEO of JP Morgan Securities. Previously in his career, Sommers was a senior managing director for Bear Stearns, serving as CEO for the private client business; prior to that he was responsible for the mutual fund business. He also spent time at Goldman Sachs in its asset management division.

“I have long admired Wells Fargo, and the way its Wealth & Investment Management business delivers outstanding service to clients,” says Sommers. “I am excited to join the company and do my part to help drive its continued evolution.”

Jonathan Weiss, CEO of Corporate & Investment Banking at Wells Fargo, will continue to lead WIM until Sommers officially begins his new role.

Latest News

ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..
Investors urgently need greater access to diversified investment strategies aligned with the Paris Agreement on climate change if the world..

Related Articles

Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Ed Rosenberg, Texas Capital
Texas Capital Bank first opened its doors back in December 1998 and nowadays offers wealth-management services, as well as commercial,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by