Wells Fargo Names New Regulatory Executive

Wells Fargo & Co. has appointed a former New York Fed official to oversee regulatory relations for its corporate risk group, a sector of the company that has had problems catching issues at the bank.

Sarah Dahlgren is joining Wells Fargo from McKinsey & Co., where she has served as a partner since 2016. Ms. Dahlgren had spent 25 years at the Federal Reserve Bank of New York, most recently as the head of financial institution supervision.

She will start at Wells Fargo in March.

Ms. Dahlgren will report to Chief Risk Officer Michael Loughlin, who is retiring. The company said earlier this month that it would be hiring someone to replace Mr. Loughlin in "the next few months."

Shares of Wells were down 0.5% midday Tuesday.

Write to Emily Glazer at emily.glazer@wsj.com and Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

January 30, 2018 12:37 ET (17:37 GMT)