Wells Fargo & Co. (NYSE: WFC) Hires New Chief Administrative Officer

Wells Fargo & Co. (NYSE: WFC) has appointed Tim Sloan as the company’s new chief administrative officer. In the newly created position, Sloan will oversee the company’s government relations and manage the company’s human resource operations and other administrative departments.

Previously, Sloan was the San Francisco-based bank’s head of commercial banking, real estate, and specialized financial services. He had the position since 2006 and has been with the company since 1987.

“Tim has demonstrated the kind of business acumen and leadership that inspires teams to higher levels of performance,” said Chairman and Chief Executive John Stumpf. “He is a trustworthy and effective ambassador for the company, having cultivated long-term relationships with many valued clients.” The CEO added that the company wants to have “a more holistic approach to how we communicate our brand, engage with the communities we serve and develop our people.”

Wells Fargo & Co. (NYSE: WFC) said that Sloan will be in charge of “the company’s brand, reputation-management, stakeholder-engagement and people-development efforts.”

Wells Fargo & Company is a diversified financial services company. The Company provides retail, commercial and corporate banking services through banking stores located in 39 states and the District of Columbia. It provides other financial services, through subsidiaries engaged in various businesses, principally wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. The Company operates in three segments: Community Banking, Wholesale Banking, and Wealth, Brokerage and Retirement. As of December 31, 2009, the Company provided banking, insurance, investments, mortgage and consumer finance from more than 10,000 stores under various types of ownership and leasehold agreements.

Shares of Wells Fargo & Co. (NYSE: WFC) traded up 2.95% during mid-day trading on Friday.

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