Wells Fargo Appoints David Julian Chief Auditor

SAN FRANCISCO - February 29, 2012

Wells Fargo & Company’s Board of Directors has appointed David M. Julian, 50, Chief Auditor for the company. Julian reports to the Audit and Examination Committee of the Board and administratively to Chief Executive Officer John Stumpf. He also joins the company’s Operating Committee, the company’s top leadership team, and will continue to be based in Charlotte. Kevin McCabe, 58, Chief Auditor since 2002, has announced his plans to retire June 30, 2012, and will work closely with Julian until then to ensure a smooth transition.

“I thank Kevin for his steady leadership over the past 10 years, and wish him much happiness in his retirement,” said John Stumpf, CEO. “David Julian has contributed immense value in his risk management roles as we navigated a challenging credit environment over the past three years. His knowledge, judgment and experience are well matched for this crucial role.”

“Kevin contributed great value as Chief Auditor over a dynamic time for Wells Fargo and the financial services industry, and we thank him for his service,” said Nicholas Moore, Chairman of the Audit and Examination Committee of the Board. “I look forward to David’s leadership as we work to continually strengthen Wells Fargo’s audit function to best in class.”

Julian joined the company in 1997 and most recently served as Head of Market & Institutional Risk, where he established the Corporate Market Risk function and provided leadership to the Counterparty and Country Risk Groups as well as the Credit Basel and Model Validation functions.

Julian previously served as the head of Corporate Credit Services for Wells Fargo and Chief Auditor for Wachovia prior to the Wells Fargo merger. Other previous positions at Wachovia include Chief Operating Officer for Finance, Corporate Controller and Principal Accounting Officer, and Director of Corporate Accounting and Reporting.

Julian also served as Senior Vice President of Finance for Forum Corporation, a management leadership company, and has worked at Price Waterhouse. He is a Certified Public Accountant and received his B.S. degree from Northeastern University.

About Wells Fargo & Company
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 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.

Mary Eshet

Jim Rowe