Wells Fargo has employed Julia Wellborn, the pinnacle of wealth administration at Comerica Financial institution, as head of Non-public Wealth Administration.
Wellborn, at present primarily based in Dallas, will relocate to New York Metropolis. She is anticipated to start out at Wells Fargo on Aug 30.
The non-public wealth administration division is a part of Wells Fargo Wealth & Funding Administration, which incorporates Wells Fargo Non-public Financial institution, Wells Fargo Advisors, Wells Fargo Retirement and Abbot Downing. In whole, WIM manages $1.eight trillion in consumer property.
Wells Fargo introduced it was merging its ultra-high-net-worth enterprise and personal financial institution below one chief in November 2018. On the similar time, Jay Welker, the financial institution's head of wealth administration and personal financial institution, introduced his retirement, efficient in March.
Wellborn first joined Comerica in 2009. Previous to main wealth administration on the financial institution, she held roles in business, company and retail banking. She additionally was president of the North Texas Area for Wachovia Financial institution.
“The Non-public Financial institution and Abbot Downing are strategically necessary to WIM and supply large alternative for long-term development as we proceed to attract on the numerous strengths and deep consumer base of Wells Fargo,” mentioned Jonathan Weiss, head of WIM. “Bringing these groups below Julia’s management will permit them to collaborate extra intently and end in one of the best service and choices for our purchasers.”
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