Wells Fargo Appoints Scott E. Powell as Chief Risk Officer

What Happened

• On September 23, 2026, Wells Fargo & Company filed an 8-K (Item 5.02) announcing that Scott E. Powell has been appointed Chief Risk Officer, effective January 15, 2027. After that date he will no longer serve as the Company’s Chief Operating Officer. The filing was signed by Janet McGinness, the Company’s Secretary.

Key Details

• Filing date: September 23, 2026 (Form 8-K, Item 5.02).
• Effective date of appointment: January 15, 2027.
• Executive named: Scott E. Powell — moving from Chief Operating Officer to Chief Risk Officer.
• Filing contains the announcement only; no compensation or additional terms were disclosed in this 8-K.

Why It Matters

• The Chief Risk Officer is a senior role responsible for overseeing risk management across the bank; appointing Scott Powell to CRO is a material leadership change investors should note.
• This change alters Wells Fargo’s senior management structure (Powell will no longer be COO after Jan. 15, 2027), which could affect how operational and risk responsibilities are allocated.
• Investors monitoring governance, risk oversight, and executive continuity may want to watch for further disclosures (e.g., compensation, succession plans, or additional leadership changes) in future filings.