Wells Fargo & Co., the biggest U.S. home lender, said Chief Financial Officer Howard Atkins is retiring for personal reasons and will be replaced by Chief Administrative Officer Timothy Sloan, effective immediately.
Atkins, who turns 60 this week, is leaving the San Francisco-based bank after 10 years, according to a statement Tuesday from Wells Fargo. His departure "is unrelated to the company's financial condition or financial reporting," the bank said. His retirement becomes effective in August, following an unpaid leave of absence that starts immediately, the bank said.
Sloan, 50, has been with Wells Fargo for 23 years, said Chief Executive Officer John Stumpf, 57, in the statement. Sloan moved into his current post last year and previously served as head of commercial banking, real estate and specialized financial services.
Wells Fargo is ranked fourth by assets among U.S. lenders. Atkins' tenure included guiding the bank through its takeover of Wachovia Corp. after the Charlotte, N.C.-based lender almost collapsed during the 2008 financial crisis.
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