Wells Fargo names Saul Van Beurden as CEO for consumer banking unit

(Reuters) – Wells Fargo has named Saul Van Beurden as the chief executive officer of its consumer and small business banking (CSBB) unit, effective May 15, it said on Thursday.

Van Beurden will continue to report to the bank’s CEO Charlie Scharf. A former JPMorgan Chase executive, Van Beurden joined Wells Fargo in 2019 and has a vast experience in retail banking.

He takes over the role from Wells Fargo veteran Mary Mack after she retires this summer.

Mack took over the helm at the CSBB unit in 2017 and has led the company’s retail branch network. She has also held leadership positions in brokerage, retail banking, corporate and commercial banking and investment banking in her career spanning nearly four decades.

CSBB helps provide financial services to about 64 million consumer banking and lending customers and over three million small business customers.

(This story has been corrected to change the name to “Van Beurden”, not “Beurden”, in paragraph 2)

(Reporting by Siddarth S in Bengaluru; Editing by Shailesh Kuber)