Wells Fargo & Company has named Delaware MBNA/Bank of America executive Andrew Rowe to head its Community Banking Customer Segments team, effective in September.
Rowe will lead efforts focused on meeting the needs of customers across various segments, including Small Business, Affluent,Wells Fargo At Work and Practice Finance. Rowe will join Wells Fargo from Bank of America, where he most recently served as Consumer Risk Executive for consumer products and channels, a release stated.
“With his experience and expertise, Andy is a perfect fit to lead our renewed efforts to meet all of the financial needs of our customers,” said Mary Mack, head of Community Banking for Wells Fargo. “It’s an area of opportunity for growth for us. We know that among our current retail banking customers, there are many small business owners and affluent customers who could also have those unique needs met at Wells Fargo. Andy and his teams will be focused on deepening our relationships with those customers.”
The Customer Segments teams Rowe will lead at Wells Fargo include the Affluent Customer Segment team, which partners with the Wealth and Investment Management line of business, to meet the specific, and often more complex, financial needs of affluent customers;Wells Fargo at Work, which helps business customers offer a comprehensive program for promoting their employees’ financial success; Practice Finance, a specialty lender for healthcare practices, which combines capital investment with business planning tools and professional resources to help practitioners acquire, build, equip, and refinance their practices; and Small Business, which serves the financial needs of small business owners with annual sales of up to $5 million, and includes Small Business Lending and Payroll Services.
“I’m excited to join a company that I have long admired,” said Rowe. “There is a tremendous opportunity for us to strengthen relationships with customers across the different segments, particularly with Affluent and Small Business customers. I look forward to playing a key role in work focused on taking care of our team members and delivering for our customers.”
Rowe also led Bank of America’s Retail Strategies and Solutions group and held leadership roles in their Consumer Deposits & Payments, Strategies Global Card Services, and Consumer Finance groups.
He joined Bank of America through the merger with MBNA and played a key role in integrating their consumer finance products into Bank of America channels, a release stated.
Rowe graduated from the University of Delaware with a degree in Finance. He’s active in the community, having served as a trustee for the Delaware Art Museum. He currently is engaged with many local efforts, including the Cape Henlopen Education Foundation.
Rowe will be based in Charlotte, NC.
Wells Fargo is recovering from a scandal over the opening of customer banking accounts, without their knowledge.
The scandal led to the retirement of its CEO and he firing of top executives. The bank has ended what many viewed as high-pressure sales tactics that were blamed in putting pressure on employees to add the accounts.