Wells Fargo CFO retires
Howard Atkins, chief financial officer and senior executive vice president of Wells Fargo (WFC), is retiring after 10 years with the firm. Atkins, who turns 60 this week, is leaving the company for personal reasons "unrelated to the company's financial condition or financial reporting," Wells specified. Atkins' retirement becomes effective in August of this year; however, he will be taking an unpaid leave of absence immediately. Timothy Sloan, Wells' current chief administrative officer and also a senior executive vice president, succeeds Atkins from the time he takes unpaid leave. "We understand Howard’s decision to retire after having served Wells Fargo successfully for nearly 10 years and after having had a financial services career that has spanned four decades. He leaves behind a Wells Fargo that remains financially strong and wholly committed to its strategy of helping all its customers succeed financially," commented John Stumpf, Wells Fargo chairman, president and CEO. He added that Sloan is well-equipped for his new position as CFO. "Tim, our new CFO, inherits strong and talented finance teams that will appreciate his impressive breadth of experience from more than 23 years of service with Wells Fargo." Sloan will continue to report to Stumpf, whom he has been under since acquiring his position as CAO in 2010. Prior to that position, he served as head of commercial banking, real estate and specialized financial services. As CFO, Sloan is responsible for leading the company's financial management functions, investment portfolios and corporate properties functions. His previous duties as CAO are passed to Patricia Callahan, who leads the company's Wachovia integration as head of the office of transition. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR. Disclosure: The author holds no relevant investments.