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WELLS FARGO & COMPANY

(WFC)
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Mike Riley and Dan Thomas Named Co-Heads of Markets

11/22/2021 | 03:01pm EST

Riley and Thomas will co-lead the Bank’s markets-driven activities and report to Jon Weiss, CEO of Corporate & Investment Bank

Wells Fargo & Company (NYSE: WFC) today announced that Mike Riley and Dan Thomas have been named co-heads of the Markets division of the Corporate & Investment Bank (CIB). Riley and Thomas will lead all of CIB’s markets-driven activities, including: Asset-Backed Finance, Equities (including Equity Research and Strategy), Macro and Spread. Most recently, Riley held the role of head of Equities and Thomas served as chief financial officer of CIB. They will report to Jon Weiss, CEO of the Corporate & Investment Bank, and they succeed Walter Dolhare who served as head of Markets until his retirement earlier this year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211122006541/en/

Mike Riley (Photo: Business Wire)

Mike Riley (Photo: Business Wire)

“Mike and Dan are strategic leaders and superb risk managers, with longstanding institutional knowledge, industry relationships, and proven track records running high performing teams,” said Weiss. “I look forward to leveraging their collective leadership, expertise and insights to chart the future of our Markets business and enhance its role as an important contributor to growth opportunities within our Corporate & Investment Bank.”

Riley joined Wells Fargo in 2013 as co-head of Equity Trading. In 2014, he became co-head of Equities and in 2017, he was named head of Equities. Before joining Wells Fargo, he was head of Options trading at Getco. Prior to that, he was co-head of Equity Derivatives Trading for the Americas at UBS. Riley was a decorated officer in the Navy where he served aboard the nuclear submarine USS Memphis.

Thomas, who currently reports to Mike Santomassimo, chief financial officer of Wells Fargo, has held various leadership roles over the course of his more than 25-year career at Wells Fargo, including its predecessor Wachovia. Most recently, he served as chief financial officer of CIB and, prior to that role, he was head of CIB’s Financial Resource Management (FRM) team. In 2013, he led the creation and build-out of Wells Fargo’s prime brokerage and derivatives clearing businesses. In addition, his leadership experience includes serving as the head of Rates and Commodities Sales for Wells Fargo, and head of the Global Rates business for Wachovia.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

News Release Category: WF-LO


ę Business Wire 2021
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Sales 2021 75 880 M - -
Net income 2021 19 587 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,0x
Yield 2021 1,06%
Capitalization 220 B 220 B -
Capi. / Sales 2021 2,90x
Capi. / Sales 2022 3,01x
Nbr of Employees 249 435
Free-Float 70,1%
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 56,69 $
Average target price 59,96 $
Spread / Average Target 5,77%
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Managers and Directors
Charles William Scharf President, Chief Executive Officer & Director
Michael Santomassimo Chief Financial Officer & Senior Executive VP
Steven D. Black Chairman
Saul van Beurden Senior Executive VP & Head-Technology
Gary Owen Chief Information Security Officer