Wells Fargo has named Dean Junkans as the new CIO of its wealth management, brokerage, retirement and ultra high net worth business.

New York-listed Wells Fargo has appointed Dean Junkans as chief investment officer for Wells Fargo Advisors and Wells Fargo Private Bank - a newly-created role in which he will coordinate “key elements” across the firm’s $1.3 trillion wealth management, brokerage, retirement and ultra high net worth business.

As CIO, Junkans will work with investment professionals across Wells Fargo’s wealth, brokerage and retirement unit to form common capital market assumptions, develop a single set of asset allocation strategies and implement a multi-asset class investment model, the firm said.

Prior to his promotion, Junkans - who is a chartered financial analyst - served as CIO of the firm's private bank.

Over the course of his 28-year investment career, Junkans has held numerous leadership and portfolio management positions, including having personally managed HNW and UHNW investment portfolios.  

Wells Fargo’s wealth, brokerage and retirement business comprises Wells Fargo Advisors, Wells Fargo Private Bank, Abbott Downing and Wells Fargo Retirement - which manages $236 billion in 401(k) and pension assets for 3.6 million Americans.

This week Wells Fargo named David Julian as chief auditor, succeeding Kevin McCabe, who is due to retire on 30 June.

Additionally, Lisa Featherngill was hired in February as managing director of planning for Abbot Downing, the firm’s dedicated business for UHNW clients with $50 million or more in assets, which is due to launch in April.