San Francisco-based Wells Fargo said Thursday, Oct. 22, 2026, that Kleber Santos will become sole CEO of its Consumer Banking and Lending division, and Saul Van Beurden will focus only on leading artificial intelligence across the company.
Why it matters: Consumer Banking and Lending covers the checking accounts, credit cards, small-business banking and auto loans many Bay Area customers use. The bank is betting AI will change how it operates.
What changes
- Santos and Van Beurden have been co-CEOs of the division since it was formed last year. Santos now takes full responsibility for it, including consumer deposits, credit cards, business banking and auto lending.
- Van Beurden, who set up and has led the bank's AI work, will build "enterprise-scale AI adoption," working with technology head Bridget Engle and with outside AI companies.
- Both keep reporting to Chairman and CEO Charlie Scharf and stay on the Operating Committee.
What the CEO said
"We have significant opportunities to grow our consumer businesses and to use AI to transform how we operate and serve our customers," Scharf said. "Kleber and Saul have built strong momentum in both areas, and having each focus fully on these priorities will help us accelerate that progress."
Wells Fargo has about $2.3 trillion in assets, the bank said. The announcement did not include financial terms or job changes.