Wells Fargo Organizational Chart
Every organization has its own organizational structure and can be considered as the systematic process of delegating authority and power within the organization (Ahmady, Mehrpour, and Nikooravesh, 2016). The organizational structure of Wells Fargo is a multidivisional structure that is relied on by most banks.
The organization is headed by the CEO and the executive team, who are the line of business CEOs. The senior leadership team consists of the Chief Executive Officer and President, The chief operating officer, the chairman of public affairs, head of strategic operations and executions, head of human resources, chief accounting officer, chief risk officer, head of technology and the five-line of business CEOs (Sterling, 2018). The organization has five lines of business CEOs that report to Wells Fargo Chief operating officer who reports to the CEO Charlie Scharf.
The line of business CEOs include:
- CEO of small business and consumer banking- The CEO is responsible for small business and branch banking, which entails 5,400 branches and offers a full range of deposit, investment, lending, and payment products.
- CEO of Commercial/community Banking- The CEO is responsible for both product and relationship responsibilities in serving businesses with annual sales. The segment includes consumer deposits groups, diversifies products, and regional banking.
- CEO of Corporate and Investment Banking- The CEO focuses on a range of banking services such as loans and supporting markets, as well as the investment requirements of Wells Fargo.
- CEO of Wealth and Investment management- The CEO is responsible for a range of investment, personalized wealth management, and asset management to clients across wells Fargo businesses.
- CEO Consumer Lending- The CEO is responsible for elevating critical responsibilities of the company, which include credit cards, personal loans, home lending, and merchant services.
According to the organizational structure of Wells Fargo, at the second level, the functions and responsibilities are divided into departments. At the second level, the responsibilities are distributed to core operation leaders in each function. For every business line, it has its core operations leaders who report the business line CEO who reports to the Chief Operating Officer Scott Powell (Wells Fargo, 2020). Wells Fargo has a formal structure whereby employees are directed to conduct activities in a specific manner. At the third level, the duties are then delegated to employees in the different sectors who are aware of management expectations and job functions. For instance, the different branches have their organizational structures, which consist of bank managers, assistant bank managers, supervisors, and tellers.
Ahmady, G. A., Mehrpour, M., & Nikooravesh, A. (2016). Organizational structure. Procedia-Social and Behavioral Sciences, 230, 455-462.
Sterling, S. (2018). Independent directors of the Board of Wells Fargo & Company: Sales practices investigation report, April 10, 113 pages, Sanger, SW, Duke, EA, James, DM, and Hernandez, E.
Wells Fargo. (2020). Wells Fargo Leadership and Governance. Available at: https://www.wellsfargo.com/about/