SAN FRANCISCO - December 13, 2011
As part of an initiative to strengthen and grow its already successful insurance businesses, Wells Fargo & Company (NYSE: WFC) today announced it is reorganizing the management of its insurance units to create a more streamlined, effective operation.
“Wells Fargo is committed to serving all of our customers insurance needs - whether they’re consumer, small business, middle market or large companies,” said Laura Schupbach, executive vice president and head of Wells Fargo Insurance. “This new structure better aligns Wells Fargo’s insurance businesses, providing customers with improved service and access to insurance and risk management expertise.”
Neal Aton will lead Wells Fargo’s new Centralized Insurance Business, which includes consumer and small business insurance products and distribution. This group will work closely with Wells Fargo’s Community Banking, Consumer Lending Group, Wealth Management and Business Banking groups to enhance insurance distribution to these customer segments.
Anne Doss will lead Wells Fargo’s National Practice and Specialty group. This business includes national resources for Wells Fargo’s property and casualty and employee benefit units, as well as the life insurance, international broker network and third party administrator retail operations. Doss will also be responsible for growing Wells Fargo’s Specialty Resource group which provides targeted insurance programs to industries such as real estate, health care, public entity, aviation, and hospitality.
Kevin Kenny will lead Wells Fargo’s new Distributed Insurance Brokerage group. This business combines the East and West Areas for Wells Fargo Insurance, including approximately 160 offices that provide insurance consulting, sales, and service to the company’s business banking, middle market, large corporate, and high net worth customers. To better serve customers in those segments, the Distributed Insurance Brokerage group will work closely with Wholesale Banking, Wells Fargo’s Private Bank and other Wells Fargo businesses to identify cross-sell opportunities.
Scott Isaacson will lead Wells Fargo’s Insurance Strategy Group. This team is responsible for developing Wells Fargo Insurance’s overall strategy, managing insurance carrier relationships as well as industry relations and analytics. The team will also work to identify opportunities to strengthen internal operations and customer relationship management across Wells Fargo Insurance.
H. David Wood will lead Wells Fargo’s Insurance Operations group. This group is responsible for strengthening technology, back office functions, project management, and re-engineering processes to streamline operations and improve customer service. Also included in this group is the mergers and acquisitions unit, which will identify, evaluate, acquire, and integrate strategic acquisition targets.
Mike Day will continue to lead Rural Crop Insurance Services, Inc. (RCIS) and Bob Pinkerton will continue to manage Flatiron Capital.
About Wells Fargo Insurance
With approximately 160 offices in 37 states, Wells Fargo Insurance is the fifth largest brokerage in the world and provides integrated solutions for consumers, wealth clients, small businesses, and middle market and corporate clients. The company also owns the nation’s largest multi-peril crop insurance provider, Rural Community Insurance Services, Inc.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.