Richard (Dick) Payne Jr. has been elected to the Wells Fargo Board of Directors and will serve on the Board’s Credit Committee, effective immediately. Payne retired in 2016 as vice chairman of Wholesale Banking at U.S. Bancorp.
“Dick is a seasoned banking professional who has spent most of his career in corporate and commercial banking, serving middle-market and large corporate customers in many of the same geographic markets and businesses served by Wells Fargo,” said Betsy Duke, Wells Fargo’s board chair. “He has a deep understanding of banking and brings a unique and valuable perspective to the Board as Wells Fargo works to provide exceptional service to its customers and meet the expectations of all of our stakeholders. He is an important addition to our board as we oversee Wells Fargo’s continued transformation. We welcome him to Wells Fargo.”
Payne has more than 40 years of corporate and commercial banking experience with large financial institutions. He served from 2010 to 2016 as vice chairman of Wholesale Banking at U.S. Bancorp. He was vice chairman of Corporate Banking at U.S. Bancorp from 2006 to 2010.
Prior to joining U.S. Bancorp, he was head of capital markets at National City Corporation and served in various corporate banking and leadership roles for predecessor companies of Wells Fargo, Bank of America, and JPMorgan Chase, as well as Morgan Stanley.
Additional details are available in an October 17 press release.