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Wells Fargo’s Technology Officer Search

During Wells Fargo’s Q1 earnings call on April 12, Interim and President CEO discussed the future of the bank’s CTO role following former CTO Scott Dillon’s departure on March 29.

During the call, Parker was asked about the changing “company culture” at Wells Fargo, including the roles needed to be filled.

Parker stated that, “the effort that we're talking about, establishing an even stronger risk management framework and achieving true operational excellence just takes a certain amount of time and we're doing that methodically, but we're also doing it in conjunction with our regulators as they provide us with constant feedback and the other thing that I will say is that when we're going forward with respect to the asset cap now, one of the things that we feel is critical to do is to get the input of our new Chief Technology Officer and our new Chief Auditor who are going to be.”

Wells Fargo’s leadership including Parker put an emphasis on technology in the call.

“We’re transforming our technology platform with the goal of enhancing the customer experience by becoming more centralized, consistent and efficient and how we deliver technology products and solutions,” said Parker.

Back in January, Wells Fargo added a Head of Technology, Saul Van Beurden, who became part of the bank’s operating committee. Wells Fargo also added Courtney Smith Goodrich as COO of Enterprise Technology.

Wells Fargo is also in the market for a new CEO, following the departure of Tim Sloan. Wells Fargo announced it is considering external candidates only, eliminating current senior executive Mary Mack, Head of Consumer Banking, from consideration, according to Markets Insider.

While the possible candidates laid out by Markets Insider and the New York Post come for varying backgrounds, Warren Buffet told The Financial Times that the next CEO of Wells Fargo should not come from Wall Street. Buffet controls nearly 10 percent of Wells Fargo shares.

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.
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