Saul Van Beurden has been appointed as the chief executive officer of Wells Fargo’s consumer and small business banking.

The new chief executive will take over the role from Mary Mack on May 15. The veteran Mack will retire this summer, having served as chief exec of the CSBB unit since 2017. She has also held leadership positions in consumer banking, brokerage, commercial banking and corporate and investment banking during her time at the bank.

Van Beurden, who joined Wells Fargo in 2019 from JP Morgan Chase where he was the chief information officer for its consumer and community banking division, will continue to report to the bank’s chief exec Charlie Scharf and will continue to serve on the company’s operating committee.

Commenting on the appointment, Scharf said: “Saul is a strong leader, technologist and knows how to run a business, making him the ideal person to lead Consumer & Small Business Banking into the future, building on the strong foundation that Mary has built.”

Van Beurden said: “I am excited to have the opportunity to lead Consumer & Small Business Banking. Mary and her leadership team have transformed the organisation, and I am excited to continue the work underway while bringing in expertise in technology and data to accelerate the transformation journey.”

The US bank has also announced the promotion of consumer technology head Tracy Kerrins to head of technology for the company. She will also report to Scharf, who said: “Tracy has led a series of business-critical initiatives to modernise our technology platforms across Consumer and Small Business Banking, as well as Consumer Lending. She is a strong leader and results-driven.”

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