Mack to Retire as CEO of Consumer and Small Business Banking at Wells Fargo

Mary Mack will retire this summer as CEO of consumer and small business banking (CSBB) at Wells Fargo. Saul Van Beurden, the current head of technology for the company, will succeed Mack, effective May 15. Van Beurden will continue to report to Charlie Scharf, Wells Fargo’s CEO, and will continue to serve on the company’s operating committee. Tracy Kerrins, the company’s current head of consumer technology, will become head of technology, reporting to Scharf and serving on the company’s operating committee.

“Mary has spent her entire career at Wells Fargo, which spans nearly four decades. She has led consumer and small business banking for the past seven years, leading through a significant amount of change, including defining a new path forward for the business,” Scharf said. “I can think of few Wells Fargo colleagues who have done as much for our company — and who have been as visible in the communities that we serve — over such a long period of time.”

Since 2016, Mack has led the transformation of Wells Fargo’s retail bank branch network. Prior to that, she served as president and head of Wells Fargo Advisors. Over her tenure with Wells Fargo, Mack has held a variety of leadership positions in consumer banking, brokerage, commercial banking and corporate and investment banking.

“It has been an honor working alongside so many talented people over the course of my career, all focused on helping our customers achieve their financial hopes and dreams,” Mack said. “The consumer and small business banking leadership team is incredibly strong and focused on continuing to improve the experiences our customers have with Wells Fargo, which affirms that this is the right time to retire. I am grateful to everyone who has been a part of my journey over the years.”

Van Beurden joined Wells Fargo in 2019 from JPMorgan Chase, where he was the chief information officer for its consumer and community banking division. Prior to his time at JPMorgan, he held senior leadership roles at ING Group, running all of operations and technology for the company’s international retail and direct banks.

“Saul is a strong leader, technologist and knows how to run a business, making him the ideal person to lead consumer and small business banking into the future, building on the strong foundation that Mary has built,” Scharf said. “CSBB’s branch network will continue to be key to the business, but our customers expect us to provide them with increasingly digitized and seamless banking experiences across all channels. Saul understands this deeply and has consistently proven his ability to convert new ideas into new products and services across Wells Fargo.”

“I am excited to have the opportunity to lead consumer and small business banking,” Van Beurden said. “Mary and her leadership team have transformed the organization, and I am excited to continue the work underway while bringing in expertise in technology and data to accelerate the transformation journey.”

Kerrins has worked in the technology and finance industries for more than 20 years. Prior to joining Wells Fargo, she led operations and technology for a $24 billion private credit manager and spent roughly 15 years at Bank of America in senior technology roles across various consumer and wholesale businesses.

“Tracy has led a series of business-critical initiatives to modernize our technology platforms across consumer and small business banking, as well as consumer lending,” Scharf said. “She is a strong leader and results-driven.”

“Technology plays a critical role in all we do for our customers and employees,” Kerrins said. “I look forward to advancing the work underway to continue to transform Wells Fargo.”

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