Wells Fargo Names New Corporate Treasurer
San Francisco — February 22, 2005
Wells Fargo & Company (NYSE: WFC) today announced the appointment of Paul Ackerman as Treasurer, effective immediately. In his new role, Ackerman is responsible for interest rate risk management, funding, capital planning, and risk insurance. He will report to Chief Financial Officer, Howard Atkins. “Paul has served Wells Fargo for 14 years in a variety of finance and operations roles, most recently as head of financial planning and analysis,” said Atkins. “He helped establish the Company’s asset/liability management process and has been able to view all of our 80+ businesses from a financial perspective. His financial expertise and understanding of our businesses is a perfect match to serve as Treasurer.” Ackerman joined Wells Fargo’s predecessor company, the former Norwest Corporation, in 1990. Throughout his tenure at the Company, he has served in a variety of finance and operations roles, including positions in Regional Banking and Home and Consumer Finance, and as CFO of Wells Fargo Services. He has been in his current position the past five years. Before joining Norwest, Ackerman was with Minneapolis-based Marquette Bank. In addition to the Ackerman appointment, Atkins said two other members of his Finance team have been given added responsibility. Ellen Haude, Head Fixed Income Trader, also becomes Director of Corporate Investments, reporting to Atkins. She will be responsible for the Company’s investment portfolio. Haude has been with Wells Fargo since 1997 in her current role; prior to joining the company, she was a derivatives trader. In addition to her new responsibilities under Atkins, Haude will retain her fixed income trading duties under Dave Weber, head of strategic investments. Barbara Brett, senior vice president, has been named Director of Global Funding, reporting to Ackerman. Brett will continue to be responsible for Wells Fargo’s global funding and liquidity program. She joined Norwest Corporation in 1980 where she held various treasury and fund management positions. Haude and Brett will share responsibility for managing Wells Fargo’s day-to-day relationships with capital markets dealers. Wells Fargo & Company is a diversified financial services company with $428 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only “Aaa”-rated bank in the United States.