Wells Fargo announces future CRO transition from Derek Flowers to Scott Powell

Wells Fargo announced that Chief Risk Officer Derek Flowers intends to retire in mid-January. Chief Operating Officer Scott Powell will become CRO upon Flowers’ retirement, and a successor COO will be named separately. Flowers joined Wells Fargo in 1995 and has served as CRO since 2022; Powell has been COO since December 2019. The announced transition had not taken effect as of October 18, 2026.