Wells Fargo: Corporate-banking boss retiring; cutting mortgage jobs

• Mike Johnson has been with Wells Fargo (WFC -1%) for 32 years and will step down as corporate-banking chief at the end of Q2. No successor has yet been named.
• In other news, the bank is cutting 1K jobs at its mortgage servicing office in Milwaukee as sharp reductions in delinquencies/problem mortgages means less servicing work. The bank has about 265K employees.