Wells Fargo's Wealth Unit Names Diversity Chief

Wells Fargo says Clarence Nunn is now head of Diverse Segments for Wells Fargo Wealth & Investment Management, which includes Wells Fargo Advisors. Nunn reports to Barry Sommers, head of the unit, and Kleber Santos, head of Diverse Segments, Representation and Inclusion for the bank.

In the role, Nunn will focus on growing the unit’s number of diverse clients and the services provided to existing and new investor clients. He most recently worked at JPMorgan, where he was head of Middle Market Banking and Specialized Industries, and the Franchise Finance business nationally within JPMorgan Chase’s Commercial Bank. 

“This important position fills a key need in our ongoing comprehensive and organizational approach. It continues us on the path to deepen our commitment and connection to employees as well as client segments that are critical to expanding our market share,” said Sommers, in a statement. “We are confident Clarence is the ideal leader for this very important role.”

Wells Fargo Wealth & Investment Management had some $2 trillion in assets as of June 30 and included about 12,800 financial and wealth advisors.

“I’m excited to join Wells Fargo and to lead our efforts in Wealth & Investment Management where our mission is to play an active role in helping diverse communities flourish,” according to Nunn.

“This begins with building a workforce that represents the clients and communities we serve, and working to close racial wealth gaps by providing investment guidance that creates a foundation from which to build generational wealth.”