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Mary Mack gets expanded role in Wells Fargo


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Mary Mack gets expanded role in Wells Fargo

Wells Fargo & Co.'s Mary Mack, head of community banking, is now also in charge of consumer lending.

Community banking head since July 2016, Mack has been leading changes in the unit amid the fallout from its fake-accounts scandal and the claims that impossible sales targets encouraged illegal practices. CEO Tim Sloan, in the press release announcing her promotion, cited "the principled way she has driven change throughout her career" and the company's decision to combine community banking and consumer lending to create a more "holistic [retail banking] approach."

Consumer lending used to be headed by Franklin Codel, who was fired. Consumer lending includes Wells Fargo Home Lending, Wells Fargo Dealer Services, and student lending and personal lines of credit businesses.

Mack's promotion took effect Dec. 18.