The bank said the retirement of Atkins is unrelated to the company’s financial condition or financial reporting.
As CFO, Sloan will assume the responsibility for leading the company’s financial management functions, investment portfolios and corporate properties functions. He also will retain oversight of the company’s strategic planning activity.
Sloan will continue to report to John Stumpf, chairman, president and CEO of Wells Fargo.
Before becoming CAO last year, Sloan served as head of commercial banking, real estate and specialized financial services, where he oversaw more than 25 lines of businesses, including capital markets and investment banking operations – a portfolio of responsibility representing $200bn in assets and 440 offices in 40 states, Asia, Canada and London.
Sloan’s CAO responsibilities are transitioning to Patricia Callahan, who leads the company’s Wachovia integration as head of the Office of Transition.
A newly promoted senior EVP, Callahan will oversee corporate communications, corporate human resources, corporate social responsibility, enterprise marketing and government relations.
Stumpf said Tim is a strong leader and has demonstrated the kind of superior business and financial acumen that makes him uniquely qualified to be Wells Fargo’s next chief financial officer.
