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Wells Fargo and Company has announced the appointment of Mike Santomassimo as CFO.
Santomassimo will report to CEO Charlie Scharf and serve on the company’s operating committee. He succeeds John Shrewsberry, who has announced plans to retire following a 22-year career with Wells Fargo, including the last six years as the company’s CFO.
Shrewsberry will continue in his role as CFO until Santomassimo joins the company and will assist with the transition thereafter.
Santomassimo has more than 20 years of leadership experience in banking and finance. He joins Wells Fargo from BNY Mellon, where he was CFO since 2018. In addition to leading Finance at BNY Mellon, Santomassimo was responsible for the firm’s regulatory relations, enterprise resiliency office, third-party governance, and other corporate services.
Previously, he served as CFO for the company’s investment services businesses. Prior to joining BNY Mellon, he spent 11 years at JPMorgan Chase in a number of key finance leadership roles, including CFO for banking, which included investment banking and treasury services.
Scharf said: “Mike is a strategic-minded CFO with success in building and leading global finance teams that help drive business improvement. On behalf of the entire board and management team, I thank John for his many years of dedication and valuable contributions.
“When I joined the company last October, John had indicated that he was considering retirement, but he wanted to ensure he was as helpful as he could be in my transition and believes that now is an appropriate time since we have the operating committee largely in place. He will be missed.”
