Wells' head of credit cards and auto lending leaving

It's another shakeup in Wells Fargo's (WFC -0.3%) management team following the naming of John Shrewsberry to replace Tim Sloan as CFO, with Tom Wolfe - who oversees two of the bank's fastest-growing consumer businesses, credit cards and auto lending - set to leave later this year.

Wolfe came over as part of 2008's purchase of Wachovia, and led Wells Fargo's effort to overtake Ally Financial as the country's largest auto lender. He was also behind a big move to expand credit card lending, and so-called credit-card penetration rose to 39% in Q2 from 34.9% a year prior. Outstanding balances rose 9.7% to $27.2B.

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