Wells Fargo taps new consumer lending chief in wake of scandal

Head of the Community Banking division Mary Mack will assume the role in addition to her current duties

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A 33-year veteran of Wells Fargo has been tapped to replace the bank’s consumer lending chief, who left last month after he was accused of disparaging a former executive. Mary Mack, who as head of the Community Banking division helped reshape and restructure the financial institution’s 9,000 U.S. retail banks, will now oversee both that organization and the Consumer Lending division following the sudden departure of Franklin Codel in November. “By combining Community Banking and Consumer Lending, we are creating a more holistic approach to delivering retail banking services to our customers, which will only enhance how we help our customers succeed financially,” said Tim Sloan, president and CEO of Wells Fargo, in a prepared statement issued Tuesday. “Mary’s proven leadership skills, resiliency and the principled way she has driven change throughout her career have earned her the respect of her customers, colleagues and teams and the opportunity to lead this combined orga...