At Wells Fargo, One-Time Dimon Protege Hires Dimon’s Son-in-Law
At Wells Fargo, One-Time Dimon Protege Hires Dimon’s Son-in-Law
(Bloomberg) -- Wells Fargo & Co.’s new boss has been poaching veterans of Jamie Dimon’s firm to build out his new team. He’s also tapped Dimon’s family.
Conor Tolkin, Dimon’s son-in-law, reports directly to Wells Fargo Chief Executive Officer Charlie Scharf in a transformation and planning role, according to company spokeswoman Arati Randolph. He joined the firm late last year to conduct planning and administrative support for Scharf, according to a person familiar with the matter.
Tolkin previously worked under Scharf at Bank of New York Mellon Corp., according to his LinkedIn profile, which also shows that he graduated from Duke University in 2011 and Harvard Business School in 2018.
His career echoes Scharf’s early experience: more than three decades ago, Dimon, then chief financial officer at Commercial Credit Corp., hired Scharf as an assistant. Scharf followed Dimon to Citigroup Inc. and Bank One Corp., which was later bought by JPMorgan Chase & Co. Scharf worked under Dimon at JPMorgan for years and was widely seen as a candidate to succeed him before leaving to run Visa Inc. in 2012.
Since taking over at Wells Fargo in October, Scharf has hired at least five men with experience at JPMorgan. Earlier this month, Wells Fargo announced that Mike Weinbach, who previously led home lending at JPMorgan, will join the San Francisco-based lender as head of consumer lending in May.
To contact the reporter on this story: Hannah Levitt in New York at hlevitt@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Dan Reichl, David Scheer
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