Wells farco has reorganised its operations to create five new business heads, and picked Jon Weiss as the first chief executive of its corporate and investment banking division. Each division head will report directly to CEO Charlie Scharf, who took the helm of Wells late last year after a months-long search to replace Tim Sloan, who struggled to right the ship after a series of scandals. Weiss will also oversee the bank's international client businesses and their operations. He was most recently head of wealth and investment management.
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