Wells Fargo names David Kowach head of Wells Fargo Advisors

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Wells Fargo & Company (NYSE:WFC) named David Kowach to head its retail wealth management division, Wells Fargo Advisors, the nation's third-largest brokerage, on Thursday.

Kowach was promoted from his role leading the bank's Private Client Group. He succeeds Mary Mack, who left the brokerage to head up the bank's community banking business last month.

Kowach's charge will be to manage Wells Fargo Advisors' roughly 15,000 brokers and nearly 4,000 bankers at a time when the full-service brokerage industry is undergoing major regulatory and technology changes.

Wells Fargo said it would name Kowach's successor shortly.

Kowach was not available for comment, a Wells Fargo spokeswoman said.

Source by Reuters