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Wells Fargo Names COO and CFO for EMEA Region

July 17, 2020, 08:00 AM

Wells Fargo & Company (NYSE: WFC) announced today that Lola Ninonuevo has been named the new chief operating officer (COO) for the Europe, Middle East andAfrica (EMEA) region. The appointment is effective Aug. 3 and subject to regulatory approval. To further strengthen the regional platform, Richard Place has joined as chief financial officer (CFO) for Wells Fargo EMEA. Place joined Wells Fargo on May 11, and his role is subject to regulatory approval.

Ninonuevo succeeds Louise Li, who was appointed head of Regulatory Relations for EMEA last year, and in January, she was also appointed the chair of Wells Fargo Bank International UC. Ninonuevo will be based in London, reporting to John Langley, regional president of EMEA, and Shawn Milligan, chief operating officer for International. She will be a member of the EMEA Executive and Wells Fargo Bank N.A. London Branch Management Committees, as well as chair of the EMEA Operating Committee.

In her role as EMEA COO, Ninonuevo will have regional responsibility for Enterprise Support functions and partner with business leaders across Wells Fargo on the management of non-U.S. activities. Ninonuevo will also play a critical leadership role in the development and execution of the overall Wells Fargo international vision and strategy.

In the newly created position of EMEA CFO, Place will be based in London. He will report to Langley and to Joe Kauder, Wholesale Group finance officer. Place will serve on the EMEA Executive Committee, the Wells Fargo Bank N.A. London Branch Management Committee, and the Wells Fargo Securities International Limited (WFSIL) Executive Committee.

“As part of Wells Fargo’s strategic commitment to the EMEA region, I’m delighted to welcome Lola and Richard to Wells Fargo as we continue to strengthen the leadership team. Both are respected industry professionals who bring extensive experience, which will further enhance our infrastructure and improve our offering for our commercial, corporate and financial institution clients across the region,” said Langley.

Ninonuevo has more than 25 years of experience in the financial services sector, primarily within Global Banking and Markets. She joins Wells Fargo from HSBC, where she has worked for more than 22 years in a number of senior roles in London and New York. Her most recent role was COO, Global Banking and Markets Europe, where she was instrumental in establishing the COO function following the implementation of ring-fencing in the U.K. and managing operations across the region. Prior to this, as head of Global Standards Strategy, Governance, and Assurance, she was responsible for the design and implementation of HSBC’s global financial crime compliance programme to address U.S. and U.K. regulatory orders. Through these and various COO roles in business and IT, Ninonuevo has developed expertise in large-scale transformation, operations, and technology — combining transformation experience with risk management and operations. Ninonuevo holds a degree in economics from Rutgers University, New Jersey, and further postgraduate studies in finance.

Place joins Wells Fargo with an impressive range of financial services experience across different organisations, geographies, and products. He previously worked at The Royal Bank of Scotland (RBS) Group for more than 13 years where he held a number of senior positions. He served as chief financial officer for NatWest Markets from 2015 to 2019. Based in London, Place partnered with the executive team on a number of strategic business initiatives and drove a series of resource optimisation programs for NatWest Markets. He also spearheaded a series of key financial initiatives; from capital optimisation and ring-fencing to the successful implementation of risk & controls across NatWest Markets, resulting in significant improvements.

Prior to this, Place worked for RBS in Singapore and Sydney where he served as chief financial officer and then chief operating officer. Before joining RBS, Place worked for Barclays Capital in Singapore, Lehman Brothers in London, and Bankers Trust/Deutsche Bank in London, New York, Tokyo, and Hong Kong. Place is a chartered accountant having trained with Price Waterhouse in London, which also included an overseas assignment in San Francisco. He holds a degree in mathematics and economics from the University of Nottingham.

Wells Fargo’s International Group operates from 30 countries outside the U.S., from locations including Dublin, Dubai International Financial Center (DIFC), Frankfurt, Hong Kong, London, Luxembourg, Paris, Seoul, Shanghai, Singapore, Taipei, Tokyo and Toronto.

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