Doug Braunstein, a former JPMorgan Chase executive, joined Wells Fargo as vice chairman, effective today. Braunstein brings a broad set of financial services experiences to Wells Fargo, with particular expertise in serving as an advisor to boards and CEOs on strategic alternatives. At Wells Fargo, Braunstein will work alongside business leaders and bankers on growing the company’s corporate finance and advisory businesses while also providing counsel to Wells Fargo senior management on broader business issues. He will report to CEO Charlie Scharf.
Braunstein joined Wells Fargo with more than 35 years of industry experience, including nearly two decades at JPMorgan Chase, where he held several executive management roles, including CFO and vice chairman. He was previously head of JPMorgan’s Americas investment banking, head of global M&A and global head of industry coverage.
“Doug is a world-class banker, and he will work alongside the great team we have assembled in Corporate and Investment Banking (CIB) to continue growing it,” Scharf said. “We have significantly strengthened CIB’s market position over the last several years, making significant investments in its industry coverage and product capabilities, adding more than 50 senior hires and winning significant new strategic mandates. The addition of Doug’s expertise and business relationships reflects our continued commitment to strengthen CIB even further. In addition, the breadth of Doug’s experience means he’ll be an effective advisor to Wells Fargo’s senior management team on business issues beyond client development.”
“I am truly excited to join Wells Fargo. I believe that Wells is uniquely positioned in financial services to build and broaden their client-serving lines of business, and I am excited to help grow the franchise,” Braunstein said. “The benefits of combining capital and world-class execution with deep customer relationships makes me excited to work with the team. I’m also delighted to be working with Charlie and Wells Fargo’s management team more broadly. The company has made a tremendous amount of progress across multiple dimensions over the past five years, and I’m excited to continue to push that work forward.”
In addition to his time at JPMorgan Chase, Braunstein has been an advisor to multiple boards and management teams in the planning, structuring and implementation of a range of corporate finance solutions and strategic alternatives. He has been involved in nearly $1 trillion in transactions throughout his career. Braunstein previously served as interim CEO of Talkspace and on the boards of several public companies, including Cantaloupe, Cardtronics, Corindus Vascular Robotics, Eagle Pharmaceuticals and Talkspace.
Braunstein is a member of the Weill Cornell Board of Fellows, having recently completed 12 years as a Cornell University board member, including serving as vice chair of the board of trustees. He also serves on Harvard Law School’s dean’s advisory board and is a member of the UJA of Greater New York’s Wall Street and financial services division.
