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Wells Fargo's community banking head leaving

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Wells Fargo's community banking head leaving

Carrie Tolstedt, headof community banking atWells Fargo & Co.,is set to retire at year-end. She will be succeeded by Mary Mack, effective July 31. Mack currently serves as presidentand head of Wells Fargo Advisors, the national retail brokerage of Wells Fargo &Co.

Tolstedt has spent 27 years at Wells Fargo. She will continueto report to President and COO Tim Sloan through her transition to retirement, workingclosely with him and Mack, who also will report to Sloan.

The San Francisco-based company said in a July 12 news releasethat Mack's successor in her Wells Fargo Advisors role will be announced at a laterdate.