A top retail bank executive for Wells Fargo is packing her bags and leaving the bank behind.
According to the Wall Street Journal, Regional Banking Executive of the Western Region Lisa Stevens is leaving Wells Fargo later this month for reasons unclear.
Wells Fargo Spokeswoman Jennifer Langan told WSJ that Stevens made the decision to leave, while Stevens told anyone with questions about her departure to speak with Langan.
At one time, Stevens’ role at Wells Fargo encompassed roughly a third of all retail and small-business banking. That changed shortly after current Senior Executive Vice President, Consumer Banking Mary Mack took over the retail banking operations upon Carrie Tolstedt's departure.
Mack rolled back Steven’s responsibilities to oversee only retail banking in the Western Region, which stretches from California to Iowa, according to the WSJ report. Mack also reduced the number of regional managers reporting to Stevens from five to eight along with other executive changes.
According a statement given through Langan, Mack said she is “grateful to Lisa for her leadership.”
Don Pearson, lead region president for the bank’s Desert Mountain region, will serve as interim head of the Western region until a new leader is selected.
This has been a year fraught with controversy and turmoil for Wells Fargo, and the loss of another of its leaders no doubt casts a shadow on the embattled bank.
