Derek Flowers will retire in mid-January after serving nearly three decades at the bank.
Wells Fargo announced on September 23, 2026, that Chief Risk Officer Derek Flowers plans to retire in mid-January. Chief Operating Officer Scott Powell will take over the Chief Risk Officer role upon Flowers' retirement.
Flowers joined Wells Fargo in 1995 and has served as Chief Risk Officer since 2022. During his nearly three-decade career at the bank, he held several leadership posts, including Chief Credit Officer.
Powell has served as Wells Fargo's Chief Operating Officer since December 2019. Prior to joining the bank, he held risk management roles, led the Consumer Banking and Retail Investments unit at JPMorgan Chase, and served as CEO of Santander Holdings USA. Wells Fargo stated that it will name a successor for the Chief Operating Officer position in the near future.
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