Wells Fargo has appointed Julia Wellborn as head of Private Wealth Management, a unit within Wealth & Investment Management (WIM).
Wellborn will assume the new responsibility on 30 August 2019.
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At Wells Fargo, Wellborn will spearhead The Private Bank and Abbot Downing. Both of these entities tend to HNW individuals and families.
Wellborn joins from Comerica Bank, where she had been working since 2009 and served as the head of wealth management.
In a financial career of over 25 years, she also worked as the president of the North Texas region at Wachovia, which was acquired by Wells Fargo a decade ago.
For the new role, Wellborn will operate out of New York.
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By GlobalDataWells Fargo WIM head Jonathan Weiss said: “The Private Bank and Abbot Downing are strategically important to WIM and offer tremendous opportunity for long-term growth as we continue to draw on the many strengths and deep client base of Wells Fargo.
“Bringing these teams under Julia’s leadership will allow them to collaborate more closely and result in the best service and offerings for our clients.”
The WIM business manages client assets worth $1.8 trillion.
In the second quarter of 2019, the business reported a net income of $602m.
Apart from The Private Bank and Abbot Downing, WIM includes Wells Fargo Advisors, Wells Fargo Retirement, and Wells Fargo Asset Management.
Last month, Wells Fargo Asset Management appointed Nico Marais as its new CEO.
