RTTNews | Aug 10, 2021 08:17AM EDT

08:17 Tuesday, August 10, 2021 (RTTNews.com) - Financial services major Wells Fargo & Co. (WFC) announced Tuesday that Steven Black has been elected as chairman of Board of Directors, effective immediately.

Black succeeds Charles Noski, who has stepped down as chairman. Noski will remain as a director until he retires on September 30.

The board also appointed Wayne Hewett to serve as a member and as chair of the Governance and Nominating Committee.

Noski has served as a director since June 2019 and as chairman since March 2020. Noski previously served as chair of the board's Audit Committee and, until today, as chair of its Governance and Nominating Committee.

The newly elected chairman, who joined the board in 2020, has over 45 years of financial services experience with some of the largest financial institutions in the world. He has served as co-CEO of Bregal Investments, a private equity firm, since September 2012.

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