Wells Fargo hires Ather Williams III from Bank of America
Wells Fargo has hired Ather Williams III as its new head of strategy, digital and innovation.
Williams will join the US bank in October 2020, reporting to CEO Charlie Scharf and serving on the company’s operating committee.
Williams joins Wells Fargo from Bank of America, where he spent nine years. His most recent position was as managing director and head of business banking.
Prior to his stint at Bank of America, Williams spent six years with JP Morgan, culminating in a position as managing director.
In his new role Williams is responsible for corporate strategic planning. Wells Fargo states he will define and manage digital platform standards and capabilities and drive innovation.
“Ather is a strong, experienced leader with nearly three decades of global banking experience and deep expertise in strategic planning and delivering digital and innovative solutions for customers and clients,” says Wells Fargo CEO Scharf.
“He is uniquely qualified to lead this group that aligns our strategic, long-term planning efforts with our strong focus on creating a more innovative, digitally enhanced company.”
Earlier this month Reuters sources revealed that Wells Fargo is looking to cut thousands of jobs amid a dip in profits.
The lender is the third-largest bank in the US and employs more than 263,000 people globally. Despite this it had to cut dividends for the third quarter of the year to meet Federal Reserve rules.
Chief financial officer, John Shrewsbury, said earlier this year that the bank would have to resume expense cutting projects “at some point”.