Wells Fargo appointed Kleber Santos CEO of consumer lending, effective immediately. Santos will lead all aspects of Wells Fargo’s consumer lending business, including home lending, auto, credit cards and merchant services and personal lending. Santos succeeded Mike Weinbach, who will depart Wells Fargo in mid-September but will work with Santos between now and then to ensure a smooth transition.

Santos has served as Wells Fargo’s head of diverse segments, representation and inclusion (DSRI) since November 2020, reporting to CEO Charlie Scharf. Santos will continue to report to Scharf in his new role and will continue to serve as a member of the company’s operating committee. He will also continue as head of DSRI while the company conducts a search for a permanent replacement.

“Kleber is a proven leader, having built our DSRI function over the past two years and having driven significant outcomes in both representation and inclusion,” Scharf said. “In addition to his leadership experience at Wells Fargo, he brings significant consumer lending and retail banking expertise to his new role. I’m confident that his capabilities and his drive will help us continue to strengthen consumer lending and prepare it for future growth.”

Santos joined Wells Fargo from Capital One, where he worked for 15 years in multiple senior roles, including as president of retail and direct banking, where he was accountable for the division’s revenue, product development and marketing, branches and ATMs and operations.

“Mike has worked tirelessly over the past two years to launch our consumer lending business,” Scharf said. “He’s a great leader and an even better person. Mike and I have been discussing his desire to do something different, and we recently agreed that now is the right time. I wish him well in his future endeavors, which I am confident he will meet with great success.”