October 12, 2017 / 4:00 PM / in 9 days

Wells Fargo names Mike Roemer chief compliance officer

(Reuters) - Wells Fargo & Co, the third-biggest U.S. bank by assets, on Thursday named Mike Roemer chief compliance officer.

A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/Files

Roemer, who joins from Barclays Plc, will take charge in January, the company said.

He takes over from interim CCO Kevin Oden who in June replaced Yvette Clark, who was Wells Fargo’s chief compliance officer since 2012.

Roemer, who joined Barclays in 2012, helped in reforming practices in the British bank’s markets division following its involvement in the Libor rate-rigging scandal and an ongoing investigation into the lender’s chief executive Jes Staley over attempts to unmask a whistleblower.

“Hiring a leader with Mike’s credentials is an important step in our commitment to building a stronger compliance function and a better Wells Fargo,” CEO Tim Sloan said.

The company is due to report third-quarter results on Friday.

Reporting by Aparajita Saxena and Roopal Verma in Bengaluru; Editing by Sriraj Kalluvila and Martina D'Couto

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