Wells Fargo & Co. (NYSE: WFC), the San Francisco based banking behemoth and largest home lender in the United States is expanding its Board. Howard V. “Rick” Richardson will be joining the board of directors, bringing the total to 16.
Stephen W. Sanger, the board’s lead director, said in a statement “Richardson has extensive financial, accounting, bank regulatory, and risk-management expertise, as well as valuable experience assisting financial services companies navigate complex operating environments.”
Richardson is a retired partner of PricewaterhouseCoopers LLP, San Francisco-based Wells Fargo said today in a statement. Richardson, who worked at the accounting firm for more than three decades, will join the board’s audit and examination committee, Wells Fargo said. He starts on Jan. 1.
In the pas eighteen months, Wells Fargo has aggressively expanded its board, adding a third new director. The prior two additional are former U.S. Cabinet secretaries. Federico Pena, who led the transportation and energy departments for President Bill Clinton, was added to the Wells Fargo board last November and Elaine Chao, George W. Bush’s labor secretary, joined in July 2011. Wells Fargo is run by Chairman and Chief Executive Officer John Stumpf, 59.
