July 30, 2012 / 8:37 PM / in 7 years

Wells Fargo names first chief information security officer

July 30 (Reuters) - Wells Fargo & Co on Monday named a Deloitte & Touche consultant to a new position overseeing the security of customer and company information.

Rich Baich, who previously led the global cyber threat and vulnerability management practice at Deloitte, will become the fourth-largest U.S. bank’s chief information security officer this summer. He will report to Martin Davis, head of enterprise technology services.

The bank created the position because of the increased size and scope of the bank’s operations after its 2008 Wachovia acquisition, spokeswoman Sara Hawkins said.

Before Deloitte, Baich held security positions at Pricewaterhouse Coopers LLP, ChoicePoint Inc and the Federal Bureau of Investigation. He served in the U.S. Navy for 20 years as an information warfare officer, cryptology officer and surface warfare officer.

Baich was chief information security officer at ChoicePoint in 2005 when the U.S. data aggregation company suffered a well-publicized data breach involving access to personal information on 145,000 customers.

In a 2005 Computerworld interview, Baich stressed the breach was the result of fraud rather than traditional computer hacking. ChoicePoint had said individuals posing as legitimate businesses accessed consumer data, including Social Security numbers and credit histories. Hawkins declined to comment on Baich’s role at ChoicePoint, which was acquired in 2008 by Reed Elsevier PLC.

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