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Wells Fargo's head of innovation group to retire, successor named

Steve Ellis, head of Wells Fargo & Co.'s innovation group, is set to retire after working at the company for nearly 31 years.

Wells Fargo hired Lisa Frazier to succeed Ellis as head of the innovation group in September, when Ellis retires. Frazier will join the company May 29 and will be based in San Francisco.

Frazier specializes in digital disruption, customer experience and product innovation. She most recently was an adviser to startups seeking growth, including Jacobi Inc. and SigFig.