Wells Fargo (WFC) said Thursday that David Kowach is the new head of Wells Fargo Advisors.
The announcement came one month after the prior head of the advisor group, Mary Mack, was tapped to lead Wells Fargo’s retail bank group. Wells Fargo Advisors has about $1.5 trillion in client assets and some 15,000 financial advisors.
Kowach, who has been in the financial services industry for 25 years, now reports to David Carroll, head of Wells Fargo’s Wealth and Investment Management unit.
“Ever since he began his career as a financial advisor, David Kowach has been focused on what is best for clients,” Carroll said in a statement. “[He] is well known and highly respected for his industry knowledge, deep relationships and proven results. He has a demonstrated track record of creativity and a vision for the evolution of the advisory business that is so important to our future competitiveness.”
Starting in 2012, Kowach worked as head of WFA’s Private Client Group, which includes nearly 11,000 registered reps. Earlier, he led WFA’s Business Development Group and was responsible for recruitment, retention, growth strategies and national sales.
“I’ve always believed that Wells Fargo’s advisors and team members are the best in the industry when it comes to serving clients,” explained Kowach, in a statement. “I’m so proud and honored for the opportunity to work with them and our partners to take care of clients and prepare our business for the future.”