Wells Fargo Financial Chief to Resign After Replacement Named

Wells Fargo (WFC Quote) said Chief Financial Officer Ross Kari has decided to resign and pursue different opportunities both inside and outside the company, but added that he will remain in his post until a successor is named.

The San Francisco-based banking and financial services company plans to search for both external and internal candidates as a replacement for Kari.

Kari joined Wells Fargo in 1983 as a financial analyst.

Shares of Wells Fargo fell $3.25, or 6.6%, to $45.70 in recent New York Stock Exchange trading.