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Wells Fargo Names Charles Scharf As New CEO And President - Quick Facts

Wells Fargo & Co. (WFC) announced Friday that its Board of Directors named Charles Scharf as the company's chief executive officer and president, and a member of the Board of Directors, effective October 21. Scharf will continue to be located in New York.

Scharf was chairman and CEO of Bank of New York Mellon. He has served for more than 24 years in leadership roles in the banking and payments industries, including as CEO of Visa Inc. and Bank of New York Mellon.

In March, the board appointed Allen Parker as interim CEO and president and a member of the board. Parker will continue to serve in these roles until Scharf joins the company. Parker will thereafter support the transition as a key member of the company's leadership team and general counsel.

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