Danny Ludeman will retire from Wells Fargo Advisors (WFA) after 34 years
of helping build one of the country's most successful brokerage firms,
with 15,000 advisors and management of more than $1 trillion in client
assets. Mary Mack, who currently serves as head of the WFA Financial
Services Group, will succeed Ludeman effective Jan. 1, 2014.
"Under Danny's leadership, we have created a premier brokerage and
advisory firm whose success is based on offering clients advice and
planning through multiple channels - in brokerage offices, retail bank
stores, or online," said David M. Carroll, head of Wells Fargo's Wealth,
Brokerage and Retirement business. "His many contributions to Wells
Fargo, his commitment to our communities across the country, and his
strong dedication to the client will be missed."
Ludeman has served as executive vice president and head of Wells Fargo
Advisors since the Wachovia merger in 2008. He led Wachovia Securities
for nearly ten years prior, and held key leadership roles at Wheat First
Securities before First Union/Wachovia acquired that firm. He has
overseen numerous successful mergers, creating a nationwide financial
advisor sales force and driving a focus on client advice and planning.
Ludeman is a dedicated advocate for community and civic causes. He
chairs the St. Louis Regional Chamber; co-chairs the capital campaign
for CityArchRiver 2015; serves on the boards of Washington University,
John Burroughs School, the St. Louis Zoo, the United Way of Greater St.
Louis, Missouri Botanical Garden, Fair St. Louis, and The Muny; and is a
member of Civic Progress.
In her new role, Mack - a 28-year veteran of the company - will work
throughout Wells Fargo to help clients achieve their financial goals
across numerous spectrums of wealth.
"I am confident Mary has the right mix of experience, vision, and energy
to lead our advisors in continuing to help our clients succeed
financially," said Carroll.
As head of the Financial Services Group at Wells Fargo Advisors, Mack
oversees strategic direction and management of Investment Advisory
Products, Strategic Solutions, Advice, Lending and Banking Services,
National Sales, Financial Advisor Productivity and Development, and
Financial Advisor Recruiting and Integration. Mack joined predecessor
firm First Union in 1984 and has held a variety of leadership positions
for groups including Wealth Brokerage Services, Investment Services
Group, and Wachovia Client Partnership. She was managing director of
Healthcare Corporate Banking and a General Bank regional president. She
serves on the Private Client Services Committee for the Securities
Industry and Financial Markets Association.
Mack shares Ludeman's passion for communities and civic involvement. She
is on the board of trustees at Davidson College, where she graduated
with a bachelor's degree in International Political Economy. She
has served on the boards or executive committees of Johnson C. Smith
University, the United Way of Central Carolinas, Junior Achievement,
Childcare Resources and the Arts & Science Council. She is a founding
member of the Foundation for Fort Mill Schools.
About Wells Fargo Wealth, Brokerage and Retirement
Wells Fargo Wealth, Brokerage and Retirement (WBR) is one of the largest
wealth managers in the U.S. WBR includes Wells Fargo Advisors, the
third-largest brokerage in the U.S.; Wells Fargo Private Bank, serving
high-net-worth individuals and families; Abbot Downing, serving
ultra-high-net-worth families; and Wells Fargo Retirement, which manages
$279 billion in institutional retirement plan and pension assets for 3.7
million Americans. Wells Fargo Advisors is the trade name used by two
separate registered broker-dealers and non-bank affiliates of Wells
Fargo & Company: Wells Fargo Advisors, LLC, and Wells Fargo Advisors
Financial Network, LLC (members SIPC).
About Wells Fargo & Company (Twitter @WellsFargo)
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.4 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, and the Internet (wellsfargo.com),
and has offices in more than 35 countries to support the bank's
customers who conduct business in the global economy. With more than
270,000 team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 25 on
Fortune's 2013 rankings of America's largest corporations. Wells
Fargo's vision is to satisfy all our customers' financial needs and help
them succeed financially. Wells Fargo perspectives are also available at blog.wellsfargo.com.
Wells Fargo & Company
Raschelle Burton, 314-875-1690