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Danny Ludeman To Retire As Head Of Wells Fargo Advisors

Stocks in this article: WFC

Danny Ludeman will retire from Wells Fargo Advisors (WFA) after 34 years of helping build one of the country’s most successful brokerage firms, with 15,000 advisors and management of more than $1 trillion in client assets. Mary Mack, who currently serves as head of the WFA Financial Services Group, will succeed Ludeman effective Jan. 1, 2014.

“Under Danny’s leadership, we have created a premier brokerage and advisory firm whose success is based on offering clients advice and planning through multiple channels – in brokerage offices, retail bank stores, or online,” said David M. Carroll, head of Wells Fargo’s Wealth, Brokerage and Retirement business. “His many contributions to Wells Fargo, his commitment to our communities across the country, and his strong dedication to the client will be missed.”

Ludeman has served as executive vice president and head of Wells Fargo Advisors since the Wachovia merger in 2008. He led Wachovia Securities for nearly ten years prior, and held key leadership roles at Wheat First Securities before First Union/Wachovia acquired that firm. He has overseen numerous successful mergers, creating a nationwide financial advisor sales force and driving a focus on client advice and planning.

Ludeman is a dedicated advocate for community and civic causes. He chairs the St. Louis Regional Chamber; co-chairs the capital campaign for CityArchRiver 2015; serves on the boards of Washington University, John Burroughs School, the St. Louis Zoo, the United Way of Greater St. Louis, Missouri Botanical Garden, Fair St. Louis, and The Muny; and is a member of Civic Progress.

In her new role, Mack – a 28-year veteran of the company – will work throughout Wells Fargo to help clients achieve their financial goals across numerous spectrums of wealth.

“I am confident Mary has the right mix of experience, vision, and energy to lead our advisors in continuing to help our clients succeed financially,” said Carroll.

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