Wells Fargo Appoints Chief Risk Officer

Wells Fargo has named Derek Flowers as the company’s chief risk officer, effective immediately.

Flowers replaces Mandy Norton and will lead all aspects of Well Fargo’s independent risk management and its compliance risk management. He will continue to serve as a member of the company’s operating committee.

Most recently Flowers was head of strategic execution and operations where he was responsible the company’s risk, control, and regulatory priorities.

Previously, Flowers was the company’s chief market risk officer and its chief credit officer. In those roles, he was responsible for leadership and oversight of all credit, counterparty and market risk undertaken throughout the firm.

He also held roles in Well Fargo’s wholesale banking business, including as a wholesale credit manager, lending manager, and head of the corporate debt portfolio.

Norton, who became Wells Fargo’s CRO in 2018, announced her retirement earlier this month.

Meanwhile, Nicolet National Bank has hired industry veteran, Kelly Fischer as senior vice president, chief innovation officer.

She joins from Bank First, where she was chief operating officer, and will report to Brad Hutjens, Nicolet National Bank’s chief credit and risk officer.

Also, Trustmark Corporation has named Michael P Carlson as its executive vice president and chief risk officer of Trustmark National Bank.

He will be responsible for the bank’s compliance and risk functions, reporting directly to chief administrative officer, Granville Tate Jr.