Twitter

Mary Mack to Lead Wells Fargo's Consumer Lending, Community Banking Organizations

Wells Fargo & Company(No. 9 on the DiversityInc Top 50 Companies list) announced today that effective immediately it has appointed Mary Mack to head the company’s Consumer Lending business, in addition to Community Banking, expanding the senior executive vice president’s responsibilities.


Mack’s new role includes the Community Banking organization, which she has led since July 2016, and Consumer Lending, which includes Wells Fargo Home Lending, Wells Fargo Dealer Services and the student lending and personal lines of credit businesses that make up its Personal Lending organization. In total, Mack’s new organization employs 115,000 team members and offers a full suite of financial products and services to consumer and small business customers across the nation.

“By combining Community Banking and Consumer Lending, we are creating a more holistic approach to delivering retail banking services to our customers, which will only enhance how we help our customers succeed financially,” said Tim Sloan, president and CEO. “Mary’s proven leadership skills, resiliency and the principled way she has driven change throughout her career have earned her the respect of her customers, colleagues and teams and the opportunity to lead this combined organization.”

Mack, a 33-year veteran of Wells Fargo, has led the transformation of Community Banking, including the elimination of product sales goals for retail bankers, the implementation of new compensation plans and training programs for managers and branch personnel, improved monitoring and controls, comprehensive process improvements to reshape the customer experience, and restructured regional leadership. All these changes are focused on rebuilding trust with the retail bank’s key stakeholders and aligning the focus of its team members with the interests and financial goals of customers.

Prior to taking on leadership of Community Banking, Mack was head of the Wells Fargo Advisors retail brokerage business. In her new role, Mack will continue to serve on the company’s Operating Committee and report to Sloan.

“I am incredibly excited about this opportunity to bring together these talented teams with a common purpose to provide the best in financial service and advice to our customers,” said Mack. “I look forward to engaging with the team as we chart the path forward to deliver exceptional experiences and value to our customers.”

In addition to Community Bank leaders, Consumer Lending leaders reporting directly to Mack include Michael DeVito, interim leader of Wells Fargo Home Lending, the country’s largest mortgage operation; Laura Schupbach, head of Wells Fargo Dealer Services; and John Rasmussen, head of Personal Lending.

Latest News

multi race business woman

New Report Shows Significant Increase in Female and Black Representation in the Executive Boardroom

Diversity and inclusion appear to be successfully increasing among America’s largest and most successful companies. The finding comes from a new report conducted by executive recruiting firm Crist Kolder Associates as part of its review of DEI representation in executive offices. Ariel Zilber of the New York Post reported that…

Taco Bell

Taco Bell Creates Business School To Help Underrepresented Groups Become Franchise Owners

Taco Bell and the popular fast-food chain’s owner Yum! Brands have entered the DEI arena with a new business school designed to help people of all backgrounds — and people of color in particular — advance into restaurant ownership. Jonathan Maze of Restaurant Business reported that “a select group of…

LGBTQ dog tags

US Government Will Now Allow Veterans To Identify As Trans on Veteran Affairs Medical Records

In another giant leap forward for LGBTQ+ rights and equality in the military, the federal government has announced that military veterans can now officially identify as trans in their official medical records. Brody Levesque of the Los Angeles Blade reported that Veterans Affairs Secretary Denis McDonough has confirmed that veterans…

Comcast NBCUniversal’s NBCU Academy Partners With 13 New Academic Institutions

Originally published at corporate.comcast.com. Comcast NBCUniversal ranked No. 6 on The DiversityInc Top 50 Companies for Diversity list in 2021.   NBCU Academy, NBCU News Group’s multi-platform journalism training and development program, significantly expanded its reach to 30 institutions by adding 13 new partners, NBCU News Group Chairman Cesar Conde announced. The new…