Wells Fargo taps investment banker to help repair its image

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Bill Daley is shaking things up at Wells Fargo’s public affairs unit, and he’s bringing in an investment banker to help him do it.

Charles Peck, head of public finance for the firm’s corporate and investment bank, will join Daley’s leadership team on an interim basis to aid with planning and “critical projects,” according to a memo obtained by Bloomberg.

Daley also is looking externally for new heads of government relations and corporate communications.

Daley, 71, joined Wells Fargo last month as vice chairman of public affairs — the first major leadership appointment since new Chief Executive Charlie Scharf took over in October.

Daley is responsible for mending relations with federal and local lawmakers and others who criticized the San Francisco-based bank following a series of scandals.

David Moskowitz, who has led Wells Fargo’s government relations and public policy group in Washington since 2017, is leaving for family reasons.

A spokeswoman for the lender confirmed the contents of the memo.

Bloomberg News
Corporate governance Law and regulation Charles Scharf Wells Fargo