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Wells Fargo Risk Officer Michael Loughlin to Depart After Bank Scandals

Bloomberg business news

Wells Fargo's 4Q Earnings Hit by Litigation Charges 

Michael Loughlin, who has been Wells Fargo & Co.’s chief risk officer through its recent spate of scandals, is retiring.

Loughlin, 62, who joined the San Francisco-based lender in 1986, will remain in the job for a few months until a successor is named, Wells Fargo said Wednesday in a statement. He’s been the company’s top executive overseeing risk since 2010, including most of the period when bank employees were opening millions of unauthorized customer accounts to meet sales goals.