Timothy Sloan

Wells Fargo & Co.’s board of directors has named 28-year company veteran Timothy Sloan to immediately become president and chief operating officer, reporting to Chairman and CEO John Stumpf. Since 2014, Sloan has headed wholesale banking for Wells Fargo, a role he will retain. The heads of the company’s other major business operations will report to Sloan. “…Tim is an ideal choice to lead one of the best teams in banking as they accelerate investments and drive change that position us for growth and enhance the many ways in which we help our customers succeed financially,” Stumpf said. Sloan served as Wells Fargo’s chief financial officer from 2011 to 2014.