SHIFT · US
Wells Fargo elevates COO Powell to Chief Risk Officer role
Wells Fargo promoted Chief Operating Officer Michael Powell to Chief Risk Officer, signaling a consolidation of operational and risk governance. This reflects industry trend of embedding AI risk oversight into executive operations.
WHY IT MATTERS
CRO elevation from COO ranks suggests banks are treating AI/model risk as operationally inseparable from business continuity—not siloed in risk committees.
Source: WSJ · 2026-09-24