Mike Roemer Named Wells Fargo Chief Compliance Officer

World News: . []

Wells Fargo & Company (NYSE:WFC) today announced that it has named Mike Roemer as chief compliance officer. Roemer, a 27-year financial services veteran, most recently served as group head of Compliance for Barclays. Roemer will join the company in January 2018 and will be based in San Francisco.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171012005441/en/

Mike Roemer, Chief Compliance Officer for Wells Fargo (Photo: Business Wire)

Mike Roemer, Chief Compliance Officer for Wells Fargo (Photo: Business Wire)

“Wells Fargo is committed to maintaining a strong compliance program,” said Wells Fargo CEO Tim Sloan. “Hiring a leader with Mike’s credentials is an important step in our commitment to building a stronger compliance function and a better Wells Fargo.”

In his new role, Roemer will be responsible for oversight of all regulatory compliance risks for Wells Fargo. As chief compliance officer, he will ensure that all areas of the company meet compliance management responsibilities and abide by all applicable laws and regulations. Reporting directly to Mike Loughlin, Wells Fargo’s chief risk officer and head of Corporate Risk, Roemer will be instrumental in leading the company’s efforts to develop an industry-leading compliance program.

“The current regulatory environment demands strong compliance leadership and Mike’s extensive compliance experience, particularly at a globally systemic important bank, is a welcome addition to the Corporate Risk group,” said Loughlin. “With Mike’s leadership, I am confident we will strengthen our ability to provide the needed tools and oversight for our team members to better serve our customers.”

Roemer joined Barclays in 2012 as head of Internal Audit. During his tenure, he was instrumental in supporting the cultural transformation of Barclays following its LIBOR settlement in 2012 and leading and transforming its compliance function. Prior to Barclay’s he was chief auditor with the CIT Group where he reported directly to the Board Audit Committee and had global responsibilities for the internal audit function. In addition, he spent 23 years at JP Morgan Chase and its predecessor organizations in various roles. Roemer is recognized for his work in establishing the Compliance Career Academy, in conjunction with the Judge Business School at Cambridge University. He is also a champion for the LGBT community.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 271,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

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Business Wire: 15:35 GMT Thursday 12th October 2017

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