Wells Fargo Combines Private Bank, Ultra-High-Net-Worth Arms

–Wells Fargo& Co. plans to combine its ultra-high-net-worth business and private bank under one leader. The merged operation will be run by someone yet to be named who will report to Jon Weiss, head of wealth and investment management, according to an internal memo. Like the larger Wells Fargo, the wealth unit is a collection of businesses from the bank’ s…