Wells Fargo named Mike Riley and Dan Thomas co-heads of the markets division of its corporate and investment bank (CIB). Riley and Thomas will lead all of Wells Fargo’s corporate and investment bank’s markets-driven activities, including asset-backed finance, equities (including equity research and strategy), macro and spread.

Most recently, Riley held the role of head of equities at Wells Fargo and Thomas served as CFO of Wells Fargo’s corporate and investment bank. They will report to Jon Weiss, CEO of Wells Fargo’s corporate and investment bank, and succeed Walter Dolhare, who served as head of markets until his retirement earlier this year.

“Mike and Dan are strategic leaders and superb risk managers with longstanding institutional knowledge, industry relationships and proven track records running high performing teams,” Weiss said. “I look forward to leveraging their collective leadership, expertise and insights to chart the future of our markets business and enhance its role as an important contributor to growth opportunities within our corporate and investment bank.”

Riley joined Wells Fargo in 2013 as co-head of equity trading. In 2014, he became co-head of equities and, in 2017, he was named head of equities. Before joining Wells Fargo, he was head of options trading at Getco. Prior to that, he was co-head of equity derivatives trading for the Americas at UBS. Riley was a decorated officer in the Navy, where he served aboard the nuclear submarine the USS Memphis.

Thomas, who currently reports to Mike Santomassimo, CFO of Wells Fargo, has held various leadership roles over the course of his more than 25-year career at Wells Fargo, including its predecessor Wachovia. Most recently, he served as CFO of Wells Fargo’s corporate and investment bank and, prior to that role, he was head of Wells Fargo’s corporate and investment bank’s financial resource management team. In 2013, he led the creation and build-out of Wells Fargo’s prime brokerage and derivatives clearing businesses. In addition, his leadership experience includes serving as the head of rates and commodities sales for Wells Fargo and head of the global rates business for Wachovia.