As Wells Fargo’s fake account crisis played out, the wounded banking giant knew it needed to rebuild investors’ trust. To that end, it recently installed investor relations chief Jim Rowe at the helm of its new stakeholder relations group.
Per The Holmes Report and several news agencies, Rowe is a veteran of Wells Fargo and current Executive Vice President and director of investor relations. The new stakeholder relations group will also focus on three other areas: corporation communications, government relations and public policy (GRPP).
Per the report, Hope Hardison, Wells Fargo’s chief administrative officer, stated:
“Corporate communications and GRPP have played critical roles over the past months, at a time when engaging with stakeholders and telling Wells Fargo’s story have been so important. Bringing these groups together with IR builds on our strengths."
It’s worth noting, as the report points out, that at one time investor relations was part of the bank’s enterprise finance and IT division. The intention of the new structure is to integrate all of Wells Fargo’s stakeholder engagement functions.