Wells Fargo CFO Ross Kari Decides to Seek New Opportunities

Apr 04, 2001, 01:00 ET from Wells Fargo & Company

    SAN FRANCISCO, April 4 /PRNewswire/ --
     Wells Fargo & Company's (NYSE:   WFC) Chief Financial Officer, Ross Kari,
 has decided to make a career change and pursue opportunities both inside and
 outside the company.  He will continue as CFO until a successor is named.
     "At any given stage in a career it's always healthy to step back and ask
 yourself if you're doing the work you want to be doing and if you feel you're
 fully engaged and passionate about it," said Kari.  "Wells Fargo is a great
 company and I'm privileged to be a part of it, but after much thought I've
 decided my background and interests are broader than my current role.  Because
 of my responsibilities during the two-year integration it was not the time to
 consider other possibilities, but now, with the integration complete, I told
 Dick Kovacevich of my interest in considering other roles.  After much
 discussion we both agreed it was time to start a search for my successor."
     "I have the highest regard for Ross, not only as an extremely capable
 finance professional and senior manager, but also for his leadership in
 managing the finance transition during the merger," said President and CEO
 Dick Kovacevich.  "Ross has shared with me his desire to expand his career
 beyond finance.  We're fortunate he will continue as CFO until a successor is
 named.  He is considering opportunities, including joining our Wholesale Bank
 headed by Group EVP Dave Hoyt, although he will also be considering other
 possibilities.  We hope Wells Fargo can continue to benefit from his
 experience and leadership.  We will be seeking both external and internal
 candidates for Ross's replacement."
     Kari joined Wells Fargo in 1983 as a financial analyst, was elected vice
 president in 1987, senior vice president in 1990 and in 1992 was named head of
 the company's telephone banking centers and ATM network.  He was named general
 auditor in 1995, was elected an EVP later that year, became head of the
 Finance Group in 1997 and was named CFO of the former Wells Fargo in May 1998.
 He succeeded Rod Jacobs as CFO in January 2000.
     Wells Fargo is a $272 billion financial services company providing
 banking, insurance, investments, mortgage and consumer finance from more than
 5,400 stores, the Internet ( http://www.wellsfargo.com ) and other
 distribution channels across North America and elsewhere internationally.
 
 

SOURCE Wells Fargo & Company
    SAN FRANCISCO, April 4 /PRNewswire/ --
     Wells Fargo & Company's (NYSE:   WFC) Chief Financial Officer, Ross Kari,
 has decided to make a career change and pursue opportunities both inside and
 outside the company.  He will continue as CFO until a successor is named.
     "At any given stage in a career it's always healthy to step back and ask
 yourself if you're doing the work you want to be doing and if you feel you're
 fully engaged and passionate about it," said Kari.  "Wells Fargo is a great
 company and I'm privileged to be a part of it, but after much thought I've
 decided my background and interests are broader than my current role.  Because
 of my responsibilities during the two-year integration it was not the time to
 consider other possibilities, but now, with the integration complete, I told
 Dick Kovacevich of my interest in considering other roles.  After much
 discussion we both agreed it was time to start a search for my successor."
     "I have the highest regard for Ross, not only as an extremely capable
 finance professional and senior manager, but also for his leadership in
 managing the finance transition during the merger," said President and CEO
 Dick Kovacevich.  "Ross has shared with me his desire to expand his career
 beyond finance.  We're fortunate he will continue as CFO until a successor is
 named.  He is considering opportunities, including joining our Wholesale Bank
 headed by Group EVP Dave Hoyt, although he will also be considering other
 possibilities.  We hope Wells Fargo can continue to benefit from his
 experience and leadership.  We will be seeking both external and internal
 candidates for Ross's replacement."
     Kari joined Wells Fargo in 1983 as a financial analyst, was elected vice
 president in 1987, senior vice president in 1990 and in 1992 was named head of
 the company's telephone banking centers and ATM network.  He was named general
 auditor in 1995, was elected an EVP later that year, became head of the
 Finance Group in 1997 and was named CFO of the former Wells Fargo in May 1998.
 He succeeded Rod Jacobs as CFO in January 2000.
     Wells Fargo is a $272 billion financial services company providing
 banking, insurance, investments, mortgage and consumer finance from more than
 5,400 stores, the Internet ( http://www.wellsfargo.com ) and other
 distribution channels across North America and elsewhere internationally.
 
 SOURCE  Wells Fargo & Company