Wells Fargo Welcomes Kerrins In New Gen AI Leadership Role

Wells Fargo has hired a new technology leader and moved current Chief Information Officer Tracy Kerrins to a newly formed Generative AI team.

The bank has appointed Bridget Engle from BNY and put her in charge of all technology within the country, replacing Kerrins who occupied that position for the last years.

The Gen AI Team Will Support The Bank In Adopting The Technology

With 30 years of experience, Engle was Chief Information Officer and Senior Executive Vice President at BNY from 2017 to early 2024. Before working at BNY, she held many jobs at Bank of America, such as Chief Information Officer of Global Banking and Markets and Chief Information Officer of Consumer Banking.

After the re-organization, Kerrins will work as the manager of consumer technology and will oversee a new Generative AI team. This team will help spread the technology throughout the bank.  Kerrins will report to the bank in her new role.

The Chief Executive Officer of Wells Fargo, Charlie Scharf stated that Bridget is a skilled tech leader with lots of experience in leading large technology upgrades across several global banks.

He noted that the bank has moved forward with Tracy leading the company. Scharf added that Bridget’s know-how will be really helpful as the team keeps updating the platforms and putting money into growing and adding new ideas across the company.

Scharf also said that Generative AI can help transform the company, enhance its client and customer experience, and make it work better. He added that the newly created Generative AI team will work hand in hand with the data and tech management teams, and all businesses to find and use the abilities of Generative AI correctly.

Wells Fargo Is Currently Facing A Lawsuit Filed By Four Former Employees

Scharf added that the company is lucky to have Tracy, with her experience in the team to step into this new role and manage the Consumer Technology team

Earlier this week, Wells Fargo was charged in a lawsuit with mishandling its worker health insurance plan and making thousands of U.S. employees pay in excess for prescription drugs.

The lawsuit was filed by four former staff of the bank in Minnesota federal court. They claimed that  Wells Fargo did not comply with federal law that required businesses to manage the health of employees and retirement plans properly.

The former workers stated that the bank’s health plan pays high sums to pharmacy benefit managers (PBMs). PBMs talk to pharmacies, health insurance plans, and drugmakers, to set the prices for medicines and choose which ones are on the lists of covered drugs.