Oct 10 Wells Fargo & Co said on Monday
it was expanding its operating committee and forming a business
group to streamline its online services.
Franklin Codel, head of home lending, will join the
operating committee and assume an expanded role that includes
dealer services and personal lending, the Wall Street bank said.
Perry Pelos, who most recently led commercial banking
services, has been named the head of wholesale banking and will
join the operating committee.
The decision to add members to the operating committee, led
by its Chairman and Chief Executive John Stumpf, comes over a
month after revelations that the bank opened accounts without
customer approval for years to satisfy managers' demands for new
Avid Modjtabai, the head of the consumer lending and
cross-company operations, was appointed head of payments,
virtual solutions and innovation.
The bank, which is expected to report third-quarter earnings
on Friday, said the new appointments to the operating group are
effective Nov. 1.
(Reporting By Sudarshan Varadhan in Bengaluru)