Wells Fargo Announces Frederick O. Terrell to join the Corporate & Investment Bank as Vice Chairman of Investment Banking

Wells Fargo & Company (NYSE: WFC) today announced that Frederick O. Terrell will join the Corporate & Investment Bank (CIB) as vice chairman of Investment Banking on January 2, 2024. He will serve as a member of CIB’s senior leadership team delivering strategic and transactional advice to clients across the platform. Fred will be based in Los Angeles where he will leverage his longstanding relationships to lend particular focus to clients on the West Coast.

“We are excited to welcome Fred to Wells Fargo,” said Jon Weiss, CEO of the Corporate & Investment Bank. “With 40 years of experience in banking, private investment, and corporate governance, he will bring to our clients an in‑depth, enterprise level perspective on the opportunities and issues facing their businesses. We look forward to the contributions he will make to our clients and our platform.”

Tim O’Hara, Head of Banking, added: “Fred is an important addition to the Company as we continue to invest and drive growth in our Corporate & Investment Bank. He brings deep experience, and our business and clients stand to benefit greatly from his ideas and advice.”

Fred will join from Centerbridge Partners, L.P., where he served as a senior advisor focused on the financial services and technology sectors since 2020. Prior to that, he spent eight years at Credit Suisse where he ultimately served as executive vice chairman of Investment Banking and Capital Markets. From 1997‑2009, he was founder and managing partner of Provender Capital Group, LLC, which made private equity investments in emerging and growth‑oriented companies. Fred began his investment banking career in 1983 at The First Boston Corporation where he was a member of the Financial Institutions Group before heading the bank’s preeminent Mortgage Finance Department from 1992‑1997. He is among the first African American partners on Wall Street and has received industry recognition and awards throughout the course of his career.

Fred has served as a director on numerous corporate boards and is currently a director on the board of Paramount Global. He previously served on the boards of directors of BNY Mellon Corporation; Carver Bancorp, Inc.; CBS Corporation; Computer Services, Inc. (CSI); Mobility Capital Finance (MoCaFi), an early‑stage company focused on the expansion of financial inclusion for underserved communities; The New York Life Insurance Company; Vroom, Inc.; and WellChoice, Inc.

In addition, Fred’s non‑profit activities include currently serving on the boards of the Kaiser Family Foundation (KFF), the Partnership Fund for New York City where he helped establish the Fund’s acclaimed Fintech Innovation Lab, the Planet Word Museum, and the Fore Youth Golf Foundation founded to expand youth golf in South Los Angeles. He serves on the Rockefeller Foundation Investment Committee and the advisory boards of the Center for a New American Security (CNAS) and the Black Economic Alliance (BEA) for which he was a founding board member. He is a member of the Council on Foreign Relations (CFR) and the Economic Club of New York.

Fred earned his Bachelor of Arts from La Verne College, his Master of Arts from Occidental College, and his Master of Business Administration from the Yale School of Management (SOM) from which he was awarded the Inaugural Alumni Service Award in 2001. He is a former Coro Foundation Fellow in Public Affairs.