Jim Hays Named Head of Wells Fargo ‘Wealth Brokerage Services’ Division
SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo (WFC) today announced that Jim Hays has been named executive vice president and head of Wealth Brokerage Services. The division provides full-service investment advice, planning and access to stocks, bonds, mutual funds and other investments through financial advisors located in Wells Fargo banking stores and Wells Fargo Wealth Management offices.
In this role Jim will lead an organization of 3,800 financial advisors and support staff delivering brokerage services to clients of Wells Fargo Wealth Management. Hell also lead the business partnership with Wells Fargos network of community bank stores to serve the planning and investing needs of its growing base of affluent customers throughout the country. This role reports to the head of Wells Fargos Wealth Management, while closely aligning with Wells Fargo Advisors, LLC.
Jim most recently served as President of the Private Client Group, a division of Wells Fargo Advisors, LLC division, since 2005. During this time the Private Client Group grew credit originations by more than $9 billion annually, and increased adoption of its Envision financial plans to more than 70 percent of clients. The Envision process is a unique, proprietary planning system used to help clients identify and prioritize goals, create an easily followed roadmap with personalized milestones, and track progress toward achieving those goals.
Prior to joining Wells Fargo Advisors through merged organizations, Jim held leadership positions during an 18-year career with Merrill Lynch, including Managing Director and head of its Private Banking/Investment Group. In that role Jim had executive responsibility for Private Wealth Advisors, Merrill Lynch Trust Company, the Family Office Group, IBK Relationship Management and Alternative Investment Strategies. There he led cross-divisional partnering initiatives that resulted in $34 billion of assets in partnered relationships.
Jims deep experience in the brokerage business, his well-established relationships within Wells Fargo Advisors and his experience in cross-division partnership place him in a unique position to quickly take advantage of the growth opportunities we have in Wealth Brokerage Services, said Jay Welker, President of Wells Fargo Wealth Management.
Wealth Brokerage Services is a division of Wells Fargo Advisors, LLC.
About Wells Fargo Advisors
With $1.2 trillion in client assets as of June 30, 2012, Wells Fargos brokerage businesses are comprised of 15,170 full-service financial advisors and 3,216 licensed bankers. This vast network of advisors, one of the nations largest, serves clients through offices in all 50 states and the District of Columbia. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC (members SIPC). Statistics include other broker-dealers of Wells Fargo & Company. www.wellsfargoadvisors.com
Investment products and services are offered through Wells Fargo Advisors, LLC.
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 has offices in more than 35 countries to support the banks customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortunes 2012 rankings of Americas largest corporations. Wells Fargos vision is to satisfy all our customers financial needs and help them succeed financially.
Wells Fargo Private Bank provides products and services through Wells Fargo Bank, N.A. its various affiliates and subsidiaries.
Wells Fargo Bank, N.A.
NMLSR ID 399801
Wells Fargo & Company
Vince Scanlon, 336-732-6387 (Media)
Source: Wells Fargo & CompanyCopyright Business Wire 2012