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Wells Fargo appoints interim head of wealth management

Wells Fargo & Co. named Tim Traudt interim head of wealth management, effective at the start of April, InvestmentNews reported March 25, citing an internal memo.

Traudt, who has been with the company since 1982, is an executive vice president and head of regional wealth management. He will replace Jay Welker, who is retiring, the news outlet added.

Welker earlier was a focus of the bank's internal investigation in connection with a gender bias complaint filed against him.