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Sol Gindi Named Head of Wells Fargo Advisors, Jim Hays to Retire
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Rhea-AI Summary
Wells Fargo has appointed Sol Gindi as the new head of Wells Fargo Advisors and the Wealth & Investment Management Client Relationship Group. Gindi, who previously served as CFO for Wealth & Investment Management, will oversee the brokerage and wealth management channels. He takes over from Jim Hays, who is retiring after 35 years in the financial services industry. Gindi has extensive experience from his time at JP Morgan, where he held senior leadership roles.
Positive
Appointment of Sol Gindi as head of Wealth & Investment Management Client Relationship Group signals a leadership change aimed at strategic growth.
Gindi's previous CFO role at Wells Fargo indicates a strong understanding of financial operations, which may enhance management effectiveness.
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SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo & Company today announced that Sol Gindi is the new head of Wells Fargo Advisors (WFA) and head of the Wealth & Investment Management (WIM) Client Relationship Group, reporting to Barry Sommers, head of WIM. In this role, Gindi will lead the Wells Fargo brokerage and wealth management channels, the independent business, and First Clearing. Every advisor leading a client relationship reports up to him.
Sol Gindi of Wells Fargo (Photo: Wells Fargo)
Jim Hays, who has been in this role since July 2019, has announced his retirement after 35 years in financial services. He will remain at Wells Fargo over the coming months to ensure a smooth leadership transition.
Gindi joined Wells Fargo in October 2020 as chief financial officer (CFO) for WIM reporting to Mike Santomassimo, Wells Fargo CFO.
“Sol has been a strong CFO for WIM and has been deeply immersed in every aspect of our business,” said Sommers. “I have every confidence he will be a dynamic leader as we grow the Wells Fargo wealth management business. Jim has been a strong leader and partner and I wish him all the best in his upcoming retirement.”
Gindi came from JP Morgan where he held numerous senior leadership roles including CFO and chief operating officer for both the Wealth Management and Consumer Banking businesses. In those roles he was responsible for client service, client and advisor experience, client and advisor platforms, branch real estate, branch operations, and the innovation lab.
He is a graduate of the New York University Leonard N. Stern School of Business with an M.B.A. in finance and a B.S. in economics. He serves on the United Negro College Fund New York Leadership Council and previously served on the Board of the Consumer Bankers Association.
Investment and Insurance Products are:
Not Insured by the FDIC or Any Federal Government Agency
Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
About Wells Fargo Wealth & Investment Management
Wells Fargo Wealth & Investment Management (WIM) is a division within Wells Fargo & Company. WIM provides financial products and services through various bank and brokerage affiliates of Wells Fargo & Company and is one of the largest wealth managers in the U.S., with nearly $2 trillion in client assets. WIM serves clients through Wells Fargo Private Bank, which serves high net worth individuals and families, and Wells Fargo Advisors, which provides advice and guidance to help clients maximize all aspects of their financial lives. Through The Private Bank, WIM is also a leading provider of trust, investment, and fiduciary services, including personal trust services and a number of specialized wealth services designed to meet the diverse needs of high net worth clients.
Investment products and services are offered through Wells Fargo Advisors. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
Wells Fargo Private Bank offers products and services through Wells Fargo Bank, N.A., Member FDIC, and its various affiliates and subsidiaries. Wells Fargo Bank, N.A. is a bank affiliate of Wells Fargo & Company.
Wells Fargo Bank, N.A., offers various advisory and fiduciary products and services including discretionary portfolio management. Wells Fargo affiliates, including financial advisors of Wells Fargo Advisors, a separate non-bank affiliate, may be paid an ongoing or one-time referral fee in relation to clients referred to the bank. The bank is responsible for the day-to-day management of the account and for providing investment advice, investment management services, and wealth management services to clients. The role of the financial advisor with respect to bank products and services is limited to referral and relationship management services.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
