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Braunstein to Join Wells Fargo as Vice Chairman

February 28, 2024, 07:20 AM

Wells Fargo & Company announced Doug Braunstein will join the company as Vice Chairman. Braunstein brings a broad set of financial services experiences to Wells Fargo, with particular expertise in serving as an advisor to boards and CEOs on strategic alternatives. At Wells Fargo, he will work alongside its business leaders and bankers on growing the company’s corporate finance and advisory businesses, while also providing counsel to Wells Fargo senior management on broader business issues. He will report to CEO Charlie Scharf.

Braunstein joins Wells Fargo with more than 35 years of industry experience, including nearly two decades at JPMorgan Chase (JPMC), where he held several executive management roles, including Chief Financial Officer and Vice Chairman. He was previously Head of JPMorgan’s Americas Investment Banking, Head of Global M&A, and Global Head of Industry Coverage.

“Doug is a world-class banker, and he will work alongside the great team we have assembled in Corporate and Investment Banking (CIB) to continue growing it,” said CEO Charlie Scharf. “We have significantly strengthened CIB’s market position over the last several years, making significant investments in its industry coverage and product capabilities, adding more than 50 senior hires and winning significant new strategic mandates. The addition of Doug’s expertise and business relationships reflects our continued commitment to strengthen CIB even further. In addition, the breadth of Doug’s experience means he’ll be an effective advisor to Wells Fargo’s senior management team on business issues beyond client development.”

Braunstein said, “I am truly excited to join Wells Fargo. I believe that Wells is uniquely positioned in financial services to build and broaden their client-serving lines of business, and I am excited to help grow the franchise. The benefits of combining capital and world-class execution with deep customer relationships makes me excited to work with the team. I’m also delighted to be working with Charlie and Wells Fargo’s management team more broadly. The company has made a tremendous amount of progress across multiple dimensions over the past five years, and I’m excited to continue to push that work forward."

In addition to his time at JPMC, Braunstein has been an advisor to numerous boards and management teams in the planning, structuring and implementation of the full range of corporate finance solutions and strategic alternatives. He has been involved in nearly $1 trillion in transactions throughout his career. Doug previously served as interim CEO of Talkspace, Inc. and on the boards of several public companies including Cantaloupe, Inc., Cardtronics plc, Corindus Vascular Robotics, Inc., Eagle Pharmaceuticals, Inc., and Talkspace.

He is a member of the Weill Cornell Board of Fellows, having recently completed 12 years as a Cornell University Board member, including serving as Vice Chair of the Board of Trustees. He also serves on Harvard Law School’s Dean’s Advisory Board and is a member of the UJA of Greater New York’s Wall Street and Financial Services Division.

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