Wells Fargo names BNY’s Bridget Engle as new head of technology

Wells Fargo Appoints Bridget Engle as New Head of Technology

Key Points:

1. Appointment Announcement:
   • Bridget Engle has been named Senior EVP and Head of Technology at Wells Fargo, effective August 12, 2024.
   • Engle will oversee all technology functions at the bank and will report directly to CEO Charlie Scharf. She will also join the bank’s operating committee.
2. Professional Background:
   • Engle brings over 30 years of experience in managing global technology organizations within complex financial institutions.
   • She joins Wells Fargo from BNY Mellon, where she served as Chief Information Officer (CIO) for over seven years.
   • Prior to BNY Mellon, Engle was the CIO of Global Banking and Markets at Bank of America.
3. Leadership Transition:
   • Tracy Kerrins, who has been Wells Fargo’s Global CIO for the past four years, will now lead Consumer Technology and head a new generative AI unit, reporting to Engle.
4. AI Strategy:
   • Wells Fargo is focusing on enhancing its AI capabilities, with a particular emphasis on generative AI.
   • CEO Charlie Scharf emphasized that generative AI can transform the bank’s operations, improve customer experiences, and optimize internal processes.
   • The new generative AI team will collaborate with data and technology platform management teams across the bank.
5. Recent AI Initiatives:
   • In April, Wells Fargo partnered with TradeSun to integrate AI into its trade finance and compliance processes, reflecting the bank’s commitment to advancing AI capabilities.