The FINANCIAL — Wells Fargo & Company announced that Corporate Treasurer Paul Ackerman will take a role in Wells Fargo Securities as vice chairman and senior banker responsible for serving global financial institutions.
In this position, Ackerman will leverage his extensive financial and capital management experience to provide counsel and guidance to global financial institution customers – banks, insurance companies, asset management companies and specialty finance companies – that represent a major area of focus for Wells Fargo Securities.
Company veteran Neal Blinde, head of the Depositories Investment Banking Group for Wells Fargo Securities, will become Corporate Treasurer, responsible for managing Wells Fargo’s capital, liquidity and funding along with its annual Comprehensive Capital Analysis and Review (CCAR). Blinde has provided investment banking services to bank clients, including Wells Fargo, a role in which he worked closely with Wells Fargo’s Treasury department. While the two appointments are effective immediately, Ackerman and Blinde will work together in the coming months to ensure a smooth transition, according to Wells Fargo.
“Today’s appointments reflect two of Wells Fargo’s durable strengths: the depth of our leadership team and the ability of leaders to seamlessly transition into important roles at our company to benefit customers and key stakeholders,” said Wells Fargo CEO John Stumpf. “Paul has done an outstanding job for the company and shareholders over the past 10 years as our Treasurer and is uniquely qualified for this important new role, where his deep experience will benefit our financial institution customers around the globe. We are pleased to have someone as capable and qualified as Neal, who has done a great job of serving the capital and funding needs of our bank clients, and those of Wells Fargo, to continue the tradition of strong treasury leadership at Wells Fargo.”
In his new role, Ackerman will report to Rob Engel, head of Investment Banking and Capital Markets for Wells Fargo Securities, and will remain in the bank’s San Francisco headquarters.
“Paul and his team have delivered very strong results over the past decade, and the company will continue to benefit from his knowledge and skills as he works closely with some of our largest customers around the world, including Wells Fargo,” said Tim Sloan, head of Wholesale Banking, which includes Wells Fargo Securities. “We are fortunate to have someone of Paul’s caliber join the Wells Fargo Securities team, and I look forward to his continued success in a role that enables him to further broaden his experiences at our company.”
Ackerman joined Wells Fargo in 1990 and was appointed Corporate Treasurer in 2005. He received his bachelor of arts in business administration and economics from Bethel University in Minnesota and his MBA from the University of Minnesota.
In his role as Corporate Treasurer, Blinde will report to CFO John Shrewsberry and remain based in Charlotte, North Carolina. During his 14-year tenure at Wells Fargo, Blinde has been instrumental in building Wells Fargo Securities’ capabilities in providing investment banking services to financial and depository customers.
“Throughout Neal’s career he has demonstrated high-caliber leadership and a deep understanding of financial and business operations, so we’re delighted he can now bring that expertise and experience to a key position within Wells Fargo,” Shrewsberry said. “Neal was instrumental in launching the Depositories Investment Banking Group at Wells Fargo Securities to serve the needs of depository institutions globally. His extensive knowledge of capital, funding, and treasury functions, combined with his past experience serving Wells Fargo as a client, will provide strong continuity.”
Prior to joining Wells Fargo, Blinde worked within the asset management division of American Express (now Ameriprise Financial). Blinde is a Chartered Financial Analyst. He earned his bachelor of science in business and accounting from the University of Minnesota and his MBA from Georgetown University.