Wells Fargo Names Mortgage Head Fercho to Diverse Segments Unit

Wells Fargo & Co. named Kristy Fercho to run diverse segments, representation and inclusion, elevating her from her post as head of mortgage lending as the firm makes plans to shrink that unit.

Fercho succeeds Kleber Santos, who was appointed to run the consumer-lending arm in July, and will report to Chief Executive Officer Charlie Scharf, according to a statement Tuesday. A bank spokesperson said Fercho is the first Black woman ever to report directly to the CEO of Wells Fargo. She’ll continue to oversee the mortgage unit as the firm conducts a search for her successor.