In her first major action as head of the unit, Mary Mack, who was promoted to president of Wells Fargo Advisors just over a month ago, announced late last week a plan to split the Financial Services Group into three separately managed units.
In a letter to staff released publicly by the firm, she wrote that after spending the past few months listening and looking closely at how Wells Fargo Advisors can enhance our structure to help us build a solid framework to improve the client experience, raise our risk consciousness and continue our focus on growth, she had decided to create three units, each with separate leadership teams reporting to her.
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