Shares of Signature Bank ( SBNY) of New York closed at $58.70 Friday, down 2% year-to-date, following a 20% return last year.
Chip Flannagan has run the Chicago wealth management office since 2007.
BlackRock is one of Wells Fargo's largest institutional investors.
The Wells Fargo fake account scandal continues to develop with new lawsuit.
Managers encouraged hispanic employees to round up illegal immigrants in order to convince them to open accounts.