US-based banking group Wells Fargo has appointed Adam Taback as the new CIO for Wells Fargo Private Wealth Management.
In the new role, Taback will be responsible for managing the investment platform of Wells Fargo Private Bank and Abbot Downing. He will also offer regulatory support for the investment management business.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Taback has been working at Wells Fargo for 23 years.
Previously, he led the global alternative investment strategy for Wells Fargo Investment Institute as well as served as the deputy CIO at Wells Fargo Private Bank.
Besides, he served as the president and director of Global Alternative Investment Services.
Wells Fargo Private Wealth Management head Julia Wellborn said: “Adam’s deep investment acumen, together with his extensive industry relationships and his care for our clients, make him incredibly well suited for this role.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Having an industry veteran of Adam’s calibre and experience in this role puts us in a great position to continue meeting the needs of our high- and ultra-high-net-worth clients.”
Wells Fargo Private Wealth Management is part of the bank’s wealth and investment management (WIM) business.
In the Q3 of 2019, the WIM division registered a net income of $1.28bn, a 75% surge from $732m a year ago.
The unit’s total revenue soared 22% to $5.14bn from $4.22bn over the period.
