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Wells Fargo Names Tim Sloan Chief Administrative Officer

An executive vice president of the company, Sloan has served most recently as Wells Fargo's head of Commercial Banking, Real Estate and Specialized Financial Services. In that role, Sloan oversaw operations within the Wholesale Banking group that provided credit and non-credit products and services to more than 40,000 customers worldwide. His groups included more than 25 distinct businesses with more than $200 billion in assets, operating out of more than 440 offices in 40 states and in Asia, Canada and London. Those business lines will remain in Wholesale Banking.

"Tim has demonstrated the kind of business acumen and leadership that inspires teams to higher levels of performance," said Stumpf. "He is a trustworthy and effective ambassador for the company, having cultivated long-term relationships with many valued clients. He listens, as well as leads, and he lives Wells Fargo's customer-focused culture. These qualities make him the right individual to lead a more holistic approach to how we communicate our brand, engage with the communities we serve and develop our people. His selection and this reorganization fully reflect our view that Wells Fargo's profile and opportunities, especially in light of our historic merger with Wachovia, are poised to grow."

With more than 25 years of experience in corporate, commercial and real estate banking, Sloan assumed his current role in 2006. From 1997 until 2006, he was the group head of Specialized Financial Services. From 1994 to 1997, he was executive vice president and division manager of the Real Estate Merchant Banking division within the Capital Markets group. He joined Wells Fargo in 1987 after working three years at Continental Bank in Chicago.

Sloan serves on the boards of Overseers of the Huntington Library and the Jardin de la Infancia Charter school, and as an associate trustee of the San Marino Schools Foundation. A graduate of the University of Michigan, Sloan holds bachelor's degrees in economics and history and an M.B.A. in finance and accounting, and serves on the university's Ross School of Business Corporate Advisory Board. Sloan was born in Cleveland, raised in suburban Detroit and currently lives in San Marino, Calif. with his wife and three children.

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 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 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune's 2009 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.

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Wells Fargo
Mary Eshet, 704-383-7777 (Media)
Jim Rowe, 415-396-8216 (Investors)