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Braunstein relinquished that place and have become vice chairman after Chief Government Officer Jamie Dimon shuffled prime administration within the wake of the dangerous trades.
Below Scharf, Wells Fargo has been searching for to develop right into a extra formidable Wall Road participant to higher compete with the likes of JPMorgan and Financial institution of America Corp.
Braunstein spent practically twenty years at JPMorgan and at one time overlapped with Scharf.
Whereas there, Braunstein’s different roles included head of Americas funding banking, head of worldwide M&A, and world head of business protection.
In September, Wells Fargo stated Nides, one in every of Wall Road and Washington’s most related executives, would be a part of as vice chairman in October — a serious rent for the financial institution because it continues to work its well beyond a sequence of missteps.
However weeks into his job, the financial institution introduced that Nides was leaving to deal with the Center East, which kicked off a seek for a everlasting substitute. In late January, Blackstone Inc. stated it had employed Nides.
(Credit score: Bloomberg)
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