Wells Fargo has hired Julia Wellborn, the head of wealth management at Comerica Bank, as head of Private Wealth Management.
Wellborn, currently based in Dallas, will relocate to New York City. She is expected to start at Wells Fargo on Aug. 30.
The private wealth management division is part of Wells Fargo Wealth & Investment Management, which includes Wells Fargo Private Bank, Wells Fargo Advisors, Wells Fargo Retirement and Abbot Downing. In total, WIM manages $1.8 trillion in client assets.
Wells Fargo announced it was merging its ultra-high-net-worth business and private bank under one leader in November 2018. At the same time, Jay Welker, the bank's head of wealth management and private bank, announced his retirement, effective in March.
Wellborn first joined Comerica in 2009. Prior to leading wealth management at the bank, she held roles in commercial, corporate and retail banking. She also was president of the North Texas Region for Wachovia Bank.
“The Private Bank and Abbot Downing are strategically important to WIM and offer tremendous opportunity for long-term growth as we continue to draw on the many strengths and deep client base of Wells Fargo,” said Jonathan Weiss, head of WIM. “Bringing these teams under Julia’s leadership will allow them to collaborate more closely and result in the best service and offerings for our clients.”