Wells Fargo & Co. tapped company veteran Tim Sloan to fill the new position of chief administrative officer, which will oversee the company's government relations, social responsibility and human resources operations, among others.
Sloan was most recently the company's head of commercial banking, real estate and specialized financial services. He had held that position since 2006, and he has been with the company since 1987. He begins in his new job effective immediately.
"Tim has demonstrated the kind of business acumen and leadership that inspires teams to higher levels of performance," said Chairman and Chief Executive John Stumpf. "He is a trustworthy and effective ambassador for the company, having cultivated long-term relationships with many valued clients."
Stumpf noted that the company wants to have "a more holistic approach to how we communicate our brand, engage with the communities we serve and develop our people."
Sloan will be in charge of "the company's brand, reputation-management, stakeholder-engagement and people-development efforts," Wells Fargo said.
Wells Fargo shares recently rose 3% to $25.85.
