Wells Fargo Hires Outside Players For Two Top Technology Roles

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Wells Fargo & Co. (NYSE: WFC) has hired two outside players for executive technology-related roles. One of them will be based in Charlotte.

Steve Hagerman was appointed head of consumer lending technology. He will support new technology platforms to help the bank’s consumer businesses to grow their product offerings.

Hagerman starts his new role in early August. He will be based in Charlotte.

Prior to Wells Fargo, Hagerman was CTO of JPMorgan Chase & Co.’s home lending originations technology division. He also held top roles in JPMorgan’s customer service, consumer and community banking and consumer branch and ATM infrastructure divisions. Hagerman spent 17 years there.

Gary Owen was named chief information security officer and head of information security. He will be based in New York.

In his new role, Owen will oversee Wells Fargo’s information security framework. That includes strategy and governance, access management and cyber defense, among others. He begins on May 31.

Recently Owen held a similar role at WarnerMedia. He also has ties to Goldman Sachs & Co. and Citigroup.

He succeeds Rich Baich, who had served in the CISO role since 2012. Baich is now CISO at AIG.

Both hires will report to Saul Van Beurden, head of technology.

“Gary and Steve bring a wealth of technology experience to our organization,” Van Beurden stated. “Their leadership will be critical as we continue to provide innovative and secure banking technology to our customers.”

Van Beurden was apponited to his newly created role in January. He was another hire from JPMorgan, having worked as the chief information officer of consumer and community banking.

These latest hires come as Wells Fargo continues to refresh its executive positions after improper practices were uncovered across multiple lines of business starting in 2016. Former Chief Executive Tim Sloan worked to restructure operations, but federal regulators weren’t convinced of the bank’s progress. Sloan stepped down in March. He was replaced by interim CEO Allen Parker.

Wells Fargo is operating under a $1.9 trillion asset cap until regulators are satisfied with the bank’s operational overhaul and risk management stipulations.