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Tim O’Hara to Join Corporate & Investment Bank as Head of Banking; Rob Engel Named Chairman of Banking
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Wells Fargo (NYSE: WFC) announced the appointment of Tim O’Hara as the new head of the Corporate & Investment Bank (CIB), effective May 9. O’Hara joins from BlackRock, where he served as Global Co-Head of Credit, bringing extensive experience from a 28-year career at Credit Suisse. O’Hara will oversee multiple divisions within CIB, emphasizing strategic growth and enhanced client relations. Rob Engel, who led Banking since 2014, becomes Chairman of Banking, retaining his critical role in client engagement.
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Tim O'Hara has extensive experience, including a significant role at BlackRock, which may enhance Wells Fargo's CIB operations.
The leadership change aims to strengthen client relationships and drive growth within the Corporate & Investment Bank.
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O’Hara joins from BlackRock
SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo & Company (NYSE: WFC) today announced that Tim O’Hara will join the Corporate & Investment Bank (CIB) on May 9, as head of Banking. In this role, Tim will lead corporate and investment banking origination and execution within CIB’s Banking Division, which is comprised of industry, regional and specialty coverage, equity and debt capital markets, mergers and acquisitions, corporate lending, portfolio management, and treasury management. Tim joins Wells Fargo from BlackRock where he served as Global Co-Head of Credit since 2017. Prior to that, Tim spent 28 years at Credit Suisse AG. He will report to Jon Weiss, CEO of the Corporate & Investment Bank.
Tim O’Hara will join the Corporate & Investment Bank on May 9 as head of Banking. (Photo: Wells Fargo)
“Tim has built an impressive career at two of our industry’s leading firms and he brings the leadership skills, business acumen, industry knowledge and ambitious vision to lead our business into the future,” said Weiss. “I look forward to leveraging his expertise and insights to maximize our potential and achieve even greater partnership and strategic dialogue with our corporate and institutional clients.”
Rob Engel, who has led Banking since 2014 and joined the Company in 2005, will assume the new role of Chairman of Banking. He will report to Tim and will remain on the CIB Operating Committee.
Weiss added: “Rob has been a trusted colleague and partner to many clients and fellow bankers, and we are fortunate to continue to draw on his energy, experience and expertise in dialogue with many of our most important clients. He is a terrific leader and strategic thinker and he’ll be a critical part of our continued success in his new role as Chairman of Banking.”
At BlackRock, Tim spent the last five years implementing the growth of the firm’s alternative asset investment business and he also helped develop the firm’s private capital markets capabilities. Tim contributed to growing BlackRock Alternative Investors’ Global Credit business to more than $170bn in AuM. He also served on multiple management and investment committees, including BlackRock Alternative Investors’ Executive Committee, BlackRock’s Global Operating Committee, the Global Human Capital Committee, and the investment committees for, among other investment strategies, direct lending, opportunistic credit, and private equity.
Prior to BlackRock, Tim spent three decades at Credit Suisse, where he held a variety of leadership positions, culminating in his role as managing director and CEO of Credit Suisse Global Markets. In this position, he led the Global Markets business, across all international regions, and served the needs of clients at the highest level, while driving profitable growth and increasing market share. Other roles he held included: President and CEO of Credit Suisse Holdings USA, Global Co-Head of Investment Banking, Head of Fixed Income, North America, Global Head of Equities, Global Head of Credit Products and Head of Leveraged Finance.
Tim serves on the Board of Directors of the University of Virginia'sInvestment Management Company (UVIMCO) which oversees the endowment for the University of Virginia. He is also a member of the University of Virginia College Foundation Board and he co-heads the Foundation's New York Council. Tim is a past member of the board of directors of the Securities Industry and Financial Markets Association (SIFMA), where he was also a member of the Executive Committee of the Board, and he served as a member of the Board of Trustees of the Credit Suisse Americas Foundation and the Credit Suisse A.G. Foundation.
Tim is a graduate of the University of Virginia, and he has an MBA from the Wharton School of Business at the University of Pennsylvania.
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.
