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Wells Fargo Names Laura Schupbach to Lead Companya?s Growing Insurance Business

^{Published on 2011-08-26 10:16:32 - Market Wire}
 

SAN FRANCISCO--([ BUSINESS WIRE ])--Wells Fargo & Company (NYSE: WFC) today announced that Laura L. Schupbach, a 16-year veteran of the company, has been named the new head of Insurance Services. Schupbach succeeds David Zuercher, who the company previously announced would retire by the end of the year. Schupbach will be based in Denver, Colorado, where she currently resides.

"Laura has consistently demonstrated tremendous leadership in the various roles shea™s held at Wells Fargo, including senior positions in wholesale and community banking"

aLaura has consistently demonstrated tremendous leadership in the various roles shea™s held at Wells Fargo, including senior positions in wholesale and community banking,a said David Hoyt, senior executive vice president and head of Wholesale Banking. aInsurance is an important, core product at Wells Fargo, and I look forward to working with Laura and our highly talented insurance team to continue to grow the business and provide valuable products and services to our customers.a

The company named Charlie Roberson, a 21-year veteran of Wells Fargo, to succeed Schupbach as the head of Enterprise Expense Management reporting to CFO Tim Sloan. Roberson will lead the companya™s ongoing Project Compass expense management program along with other areas of responsibility.

In her new role, Schupbach will oversee Wells Fargo Insurance Services, the fifth largest insurance brokerage in the world and the largest bank-owned insurance brokerage in the U. S. (Business Insurance, 2011) with more than 200 offices in 37 states. Wells Fargoa™s brokerage/agency model now extends to all of its customers segments, providing an integrated choice solution for consumers, wealth clients, small businesses, middle market and corporate clients alike. Wells Fargo also owns the nationa™s largest multi-peril crop insurance provider, Rural Community Insurance Services, Inc.

aIa™m very excited about the opportunity to take what is already a vibrant insurance platform to the next level of profitable growth,a said Schupbach. aIa™m confident that the deep operational experience and strong relationships Ia™ve built in working across many of Wells Fargoa™s businesses will help the talented insurance team better meet the financial needs of our commercial, retail bank and wealth management customers.a

During her career, Schupbach has held various senior level positions throughout Wells Fargo, including head of Enterprise Expense Management, and the head of Finance for the Wholesale Banking Group, the Diversified Products Group (various consumer and small business businesses), and the Western Banking Group (eight Regional Banking States).

Schupbach graduated from Minnesota State University-Moorhead, where she earned her Bachelor of Science degree in accounting.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 275,000 team members, Wells Fargo serves one in three households in America.Wells Fargo & Company was ranked No. 23 on Fortunea™s 2011 rankings of Americaa™s largest corporations. Wells Fargoa™s vision is to satisfy all our customersa™ financial needs and help them succeed financially.