Strategy

Wells Fargo Restructures Wealth Management Post-Wachovia

Nick Parmee 10 May 2011

Wells Fargo Restructures Wealth Management Post-Wachovia

Wells Fargo has reduced the number of its US regions from 12 to seven, a bank spokesman has said in a statement.

John Dowd will add Pennsylvania and Delaware to his Northeast region and John Duchala, who had overseen the two states, takes on the Southwest region. Washington, Virginia and Maryland are brought into Jeff Hartman’s management of the Carolinas as Greg Bronstein takes over as head of the Southeast region.

“As many companies do from time to time, Wells Fargo wealth management has recently made a number of changes to its internal structure. This new organizational structure, which takes us from 12 to seven regions, will allow us to realize the efficiencies of the merger with Wachovia,” the statement said.

Joe DeFur heads California and Hawaii, Jeff Grubb the Mountain Northwest and Tim Traudt the Great Lakes.

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