President, Wells Fargo Advisors
More than 90% of Wells Fargo's banking customers have their retirement and brokerage accounts elsewhere, and Chief Executive John Stumpf is counting on Mary Mack to capture a chunk of that business.
Elevated to her current position in January 2014, Mack has executive responsibility for Wells' retail brokerage business — the nation's third-largest full-service retail brokerage firm, with $1.4 trillion in customer assets.
In her first year on the job, Mack focused on partnering with other Wells units to win referrals, and the results were a 4% increase in brokerage assets and a 12% gain in managed-account assets.
She also aimed to improve the customer experience by streamlining the account-opening process and consolidating customers' quarterly statements into easy-to-read, highly personalized reports. Those are likely big reasons why customer satisfaction ratings are up for her unit; it climbed from No. 10 in J.D. Power's Full Services Investor Satisfaction study in 2014 to No. 3 this year.
Mack achieved this success while dealing with a personal tragedy: the loss of a 23-year-old daughter, who died after a brief illness in July 2014. To honor their daughter, Mack and her husband, Barry, raised money to support the development of a dog park and a scholarship fund. The 12-acre Mary Warner Mack Memorial Dog Park in Fort Mill, S.C., opened in May, the same month that the first scholarship to Clemson University was awarded in their daughter's memory.
Mack has long been an advocate of recruiting more women into financial services and makes it a priority to take part in industry events supporting women as leaders in the industry. She gave the keynote address at the Barron's Top Women Advisors Summit in December, and she chairs Wells Fargo Advisors' Diversity & Inclusion Committee.