(Reuters) – Wells Fargo & Co (N:) on Friday named Charles Scharf, the chief executive officer of Bank of New York Mellon (N:), to its top job.
Wells Fargo interim CEO Allen Parker will continue to serve in the role until Scharf joins on Oct. 21, the bank said.
Parker, 64, was thrust into the position in March when former CEO Tim Sloan resigned abruptly, saying pressure from politicians and regulators had become a distraction in running the scandal-plagued bank.
Scharf, also former Visa Inc (O:) CEO, serves on the board of Microsoft Corp (O:).
Shares of Wells Fargo were up nearly 1% at $49.31 in premarket trading.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.