Wells Fargo has named Kleber Santos sole CEO of its Consumer Banking and Lending (CBL) division, while Saul Van Beurden will focus exclusively on leading artificial intelligence across the company.
The two executives had served as co-CEOs of CBL since the division was formed last year.
Santos will take full responsibility for CBL, which spans consumer deposits, credit cards, business banking and auto lending. Wells Fargo said the move builds on growth across those businesses.
Van Beurden, who established and led Wells Fargo’s AI efforts while also co-leading CBL, will now work on enterprise-scale AI adoption.
He will work with technology head Bridget Engle and business leaders to drive transformation across the company and strengthen partnerships with AI companies.
Both executives will continue reporting to Chairman and CEO Charlie Scharf and serving on Wells Fargo’s Operating Committee.
Scharf said the bank sees opportunities to grow its consumer businesses and use AI to change how it operates and serves customers. “Kleber and Saul have built strong momentum in both areas, and having each focus fully on these priorities will help us accelerate that progress,” he said in the announcement.
Wells Fargo had about $2.3 trillion in assets and operated through four reportable segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
The appointment gives Santos direct accountability for a major revenue-generating segment, while giving Van Beurden a dedicated mandate to scale AI across the bank rather than splitting his time between consumer banking and technology initiatives.