In one of his first major acts after moving from general counsel to acting CEO, Allen Parker has created a new working group at Wells Fargo & Co. aimed at taking on the scandal-plagued bank’s regulatory and compliance challenges.
Parker named Derek Flowers, a 21-year bank veteran who is currently its chief credit and market risk officer, to head the new “strategic execution and operations group.” Flowers will report directly to Parker. Neither Flowers nor Parker were available for comment Thursday.
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