- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-08-14T16:09:00
Wells Fargo announced Chief Compliance Officer Mike Roemer will depart two years after taking on the daunting task of transforming the troubled bank’s compliance and risk management efforts. Paula Dominick will succeed him as CCO.
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While it’s not yet clear whether Wells Fargo’s compliance moves (including the loss of its CCO) will pay off, we’re much more certain about the Irish Data Protection Commission’s stance on a potential Twitter fine.
Wells Fargo is now operating under a different regime, but what have the billions of dollars the bank has spent in attending to the compliance failures that arose out of its fake account scandal delivered? Not enough, posits Martin Woods.
Still trying to polish its tarnished reputation, Wells Fargo announced the appointment of two new corporate risk leaders and an enhanced organizational structure “designed to provide greater oversight of all risk-taking activities.”
