Charles Scharf is taking over as the new President and CEO of Wells Fargo (NYSE:WFC).

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Here’s what to know about the new Wells Fargo CEO.

• Charles Scharf will be taking over as the new CEO of Wells Fargo starting on Oct. 21, 2019.
• This will also have him becoming the company’s President and joining its Board of Directors at the same time.
• That will have him taking over these roles from C. Allen Parker, who is serving in them temporarily while a search for a permanent replacement was underway.
• Parker will also be sticking around to assure that there is a smooth transition between him and the new Wells Fargo CEO.
• Prior to agreeing to take in this role at WFC, Scharf was the Chairman and CEO of Bank of New York Mellon (NYSE:BK).
• His history also includes serving as the CEO of Visa (NYSE:V) for a time.
• Before this, he was the Managing Director of One Equity Partners, which is JP Morgan Chase’s (NYSE:JPM) private investment arm.
• His time with JPM also saw him serving as the CEO of its Retail Financial Services business.
• In total, Scharf is bringing 24 years of leadership experience in the banking and payments sector with him to Wells Fargo.
• He’s also a member of the Board of Directors at Microsoft (NASDAQ:MSFT).

You can follow this link to learn more about the new Wells Fargo CEO Charles Scharf.

WFC stock was up 4% as of Friday afternoon and is also up 4% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.