Mike Santomassimo is succeeding John Shrewsberry, who has held the role for the past six years.

The shift comes after the bank reported its first quarterly loss since 2008.

The bank has been in turmoil relative to peers for years. The economic fallout from the coronavirus pandemic only made matters worse.

“Overall there were not many positive data points to hang your hat on,” according to analysts. Advisor headcount, net interest income and assets were down.

The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.

U.S. officials have raised questions about the security of TikTok, which is owned by Chinese company ByteDance.

The move would potentially set a bleak precedent for an industry that’s been resisting mass layoffs as the coronavirus pandemic worsens.

Some of the defecting advisors had been long-time advisors at their former wirehouse before making the move.

The bank says an announcement on how far the current 51-cent payout would drop is expected in mid-July.

The wirehouse added more than a dozen advisors in the last month managing more than $1 billion in client assets.

In a new twist on an old scam, cybercriminals have tried to get thousands of people to surrender their Wells bank account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's name.

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.

Members of the bank’s operating committee will be evaluated annually on how much they have increased representation and inclusion of diverse employees in the operations they oversee.

The newly independent advisor oversaw $92 million in client assets.

Shares of the bank have touched a 10-year low.

New chief product officer Michael Korcuska’s resume includes Weight Watchers and LinkedIn instead of finance or technology.

Wells Fargo will temporarily stop accepting applications for home equity lines of credit, following a similar move by rival JPMorgan Chase.

Unlike recent affairs that were marred by protests, this year's meeting — held online because of the coronavirus outbreak — went smoothly as investors overwhelmingly approved the bank's slate of directors and executive compensation plan.

Intuitive Advisor is now among the most affordable options for digital investing with human advice.

Its prediction that business conditions will remain weak this year — and into next year — stands in stark contrast to forecasts from political leaders that the economy will rebound quickly from the coronavirus pandemic.