Jon Weiss to Depart Wells Fargo Corporate and Investment Bank
Jon Weiss, co-chief executive officer of Wells Fargo & Co.'s corporate and investment bank (CIB), will retire after nearly two decades with the company.
Weiss, who joined Wells Fargo in May 2023 as co-CEO of CIB, will become the unit's sole leader. Since taking the helm of CIB in 2020, Weiss has overseen a significant increase in net income (40%) and revenue (35%).
"Under Jon's leadership, CIB has experienced substantial growth and is well-positioned for continued success," said CEO Charlie Scharf.
Wells Fargo, the fourth-largest US bank, has focused on strengthening its Wall Street presence under Scharf's leadership. Weiss's departure marks a significant change within the CIB division, which reports directly to Scharf.