Wells Fargo Names Yvette Hollingsworth Chief Compliance Officer

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo & Company (NYSE:WFC) today announced that it has named Yvette Hollingsworth chief compliance officer. Hollingsworth, who most recently served as managing director and global head of Operations Compliance and Financial Crimes Compliance & Risk Management for Barclays Corporate & Investment Bank, will begin her new role on June 1, 2012. She succeeds Tim Marrinan, who announced his retirement late last year. Hollingsworth will be based in San Francisco, California and will report to Caryl Athanasiu, executive vice president and chief operational risk officer in the Corporate Risk group.

“We are delighted to welcome Yvette to our Corporate Risk team at Wells Fargo,” said Mike Loughlin, chief risk officer and head of Corporate Risk. “Given the intensity of the current regulatory environment, it’s absolutely critical that we maintain a strong compliance team, and Yvette has demonstrated that she has the values, depth of knowledge and experience to effectively lead regulatory compliance for our company.”

As chief compliance officer, Hollingsworth will be responsible for ensuring that all areas of the company meet compliance management responsibilities and abide by all applicable laws and regulations. Her team will continue to provide independent oversight of business-based compliance management activities.

Hollingsworth has extensive experience in compliance and risk management, having spent approximately 10 years as a regulator with the Federal Reserve System with roles at the Federal Reserve Banks of San Francisco and New York as well as the Board of Governors. Her industry experience includes a variety of senior compliance/anti-money laundering (AML) roles for financial institutions including Barclays Corporate & Investment Bank and Citigroup, where she served as managing director and regional head of AML Compliance for the Markets & Banking North American division.

Hollingsworth previously served on the Supervisory Committee of the Federal Reserve Credit Union, as vice president of Administration and Operations and as a member of the Board of the New York Chapter of the National Black MBA Association, and currently serves as a Board member and Vice Chairman of INROADS New York/New Jersey Region. She earned an M.B.A. from Syracuse University and a bachelor of science degree from the State University of New York Institute of Technology.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

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Source: Wells Fargo & Company