Wells Fargo's chief risk officer Derek Flowers to retire

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September 23, 2026 4:41 PM EDT

FILE PHOTO: Wells Fargo logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Sept 23 (Reuters) - ‌Wells ​Fargo ​said on Wednesday its chief risk ‌officer, Derek Flowers, would retire ⁠in mid-January after nearly three ‌decades at the ‌US banking giant.

Flowers, who started at Wells Fargo ​in 1995, held various roles at the ⁠fourth-largest US bank. He has been ​the chief risk officer since 2022 and will ​be succeeded by ‌Chief Operating Officer Scott Powell.

"Derek played a ⁠pivotal role in strengthening our risk and control ⁠framework and fostering the strong ​risk culture that positions Wells Fargo for continued growth," CEO Charlie ‌Scharf said.

Wells Fargo plans to name Powell's ‌successor in the ⁠near future.

(Reporting ‌by Arasu ​Kannagi Basil in Bengaluru; Editing by Shilpi ‌Majumdar)


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