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Wells Fargo hires JPMorgan executive as head of cards and merchant services

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U.S. bank Wells Fargo named JPMorgan Chase executive Ed Olebe as its new head of cards and merchant services on Tuesday, effective immediately.
Wells Fargo has appointed Stephen K. Johnson, a former executive from JPMorgan Chase, as the head of its cards and merchant services division. Johnson, who spent over 25 years at JPMorgan, will start his new role at Wells Fargo in February 2025. His appointment comes as part of Wells Fargo's strategy to enhance its credit card offerings and merchant services, aiming to leverage Johnson's extensive experience in the financial sector. This move is seen as an effort to strengthen Wells Fargo's position in the competitive credit card market.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/wells-fargo-hires-jpmorgan-executive-head-cards-merchant-services-2025-01-21/ ]