Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.94%0.02
MortgagePeople Movers

Wells Fargo appoints new compliance leadership

New chief compliance officer to join in January

Wells Fargo announced it is changing up its leadership for its compliance team with a new chief compliance officer, who will start in January 2018.

The bank announced Thursday that financial services veteran Mike Roemer, who most recently served as group head of compliance at Barclays, will soon take over as chief compliance officer. After joining the company in January, Roemer will be based in San Francisco.

“Wells Fargo is committed to maintaining a strong compliance program,” Wells Fargo CEO Tim Sloan said. “Hiring a leader with Mike’s credentials is an important step in our commitment to building a stronger compliance function and a better Wells Fargo.”

In his new role, Roemer will be responsible for the oversight of all regulatory compliance risks for the bank. He will ensure that all areas of the company meet compliance management responsibilities and abide by applicable laws and regulations.

Roemer will report directly to Mike Loughlin, Wells Fargo chief risk officer and head of corporate risk. The bank announced the move as part of its development of an "industry-leading" compliance program.

“The current regulatory environment demands strong compliance leadership and Mike’s extensive compliance experience, particularly at a globally systemic important bank, is a welcome addition to the Corporate Risk group,” Loughlin said. “With Mike’s leadership, I am confident we will strengthen our ability to provide the needed tools and oversight for our team members to better serve our customers.”

Over the past few months, Wells Fargo has dealt with added scrutiny as it deals with the fallout from its fake accounts scandal, including facing fines from the Consumer Financial Protection Bureau and even calls from Congress to get rid of some of its leaders.

Before joining Barclays in 2012 as head of internal audit, Roemer was chief auditor with the CIT Group where he reported directly to the Board Audit Committee and had global responsibilities for the internal audit function. He also spent 23 years at JPMorgan Chase and its predecessor organizations in various roles.

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please