--Wells Fargo & Co.'s chief compliance officer, Mike Roemer, is leaving after two years of attempting to turn around the troubled bank's internal oversight and risk-management functions, the Financial Times reported Thursday, citing people familiar with the matter.

--Mr. Roemer's departure comes after Chief Executive Charles Scharf reversed a previous decision to centralize the bank's risk and compliance functions, according to the report.

--Mr. Roemer will be replaced by Paula Dominick, who has been chief compliance officer for Credit Suisse Americas for more than four years, the FT reported, adding that Wells Fargo didn't immediately provide a comment.

 

Full story: https://www.ft.com/content/ffeb7a3b-6908-4ea5-a848-841bad14297b

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

August 13, 2020 14:11 ET (18:11 GMT)

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