Wells Fargo Appoints Paul Rich as Chief Auditor

ryanniesMay 18, 2022

Rich has been the company’s interim chief auditor since February 2022.

San Francisco — Wells Fargo & Company (NYSE: WFC) today announced that Paul Ricci has been appointed Chief Auditor. Rich reports to the Audit Committee of Wells Fargo’s Board of Directors and administratively to CEO Charlie Schaff. He also joins the Wells Fargo Steering Committee.

As Chief Auditor, Rich leads an internal audit organization. Organizational responsibilities include providing an independent and objective internal audit guarantee for the effectiveness of control design and operation that supports the company’s governance, risk management, and control functions. Ricci has been the interim chief auditor of the company since February 2022. He has over 28 years of experience in the financial services industry with a global focus on governance, internal control, regulatory compliance, and risk management. Rich joined Wells Fargo in December 2019 as Chief Auditor for Corporate Risk and Capital Management. During his time at Wells Fargo, Rich built and led a team of experienced professionals on subjects covering capital management, credit risk, compliance, market / counterparty risk, model risk, operational risk, strategic and enterprise risk management. We have provided expertise audits.

“Paul has led the audit team with highly competent hands over the past few months, working to strengthen the department’s audit practices and operating models and enable independence as a third line of defense. “Scharf said. “He will continue to focus on these important goals for the next few months and years.”

Prior to joining Wells Fargo, he was Managing Director and Chief Auditor of Citibank’s Risk Management and Capital Management and was a key member of the leadership team leading the transformation of internal audit. He has also served as Chief Auditor for Global Risk Management, Risk Technology, Investment Banking Finance, and Internal Audit Team, and has held several project-based roles at JPMorgan.

Lich is a Certified Internal Auditor and a Certified Internal Auditor. She holds a Bachelor of Science degree in Accounting and a Master’s degree in Finance and Quantitative Analysis from St. John’s University, a certificate of operational excellence at MIT, and a certificate of strategy at Columbia Business School.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company with approximately $ 1.9 trillion in assets, serving one in three US households and more than 10% of US SMEs. A market banking provider. In the United States, a variety of banking, investment and mortgage products and services, and consumer finance through four reporting business segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, Wealth & Investment Banking. And offers commercial finance. Investment management. Wells Fargo was ranked 37th in Fortune’s 2021 largest corporate ranking in the United States. In the community we serve, the company builds a sustainable and comprehensive future for everyone by supporting affordable housing, SME growth, economic health and a low-carbon economy. In particular, we are focusing on social impact. News, insights, and perspectives from Wells Fargo are also available in the Wells Fargo Story.

Additional information can be found at www.wellsfargo.com | Twitter: @Wells Fargo..

News Release Category: WF-LO