Elmer Thornton "Chip" Walker, an executive with Wells Fargo Advisors, has left the firm. Walker had served in senior recruiting roles at the firm during his 28-year career at Wells Fargo and its predecessors. Most recently, Walker served as the head of field strategy and execution.

According to an executive at Wells Fargo, Walker's departure related to restructuring. Heather Hunt-Ruddy, the head of client experience and growth, said that Wells Fargo has started a multiyear effort to become more efficient. Hunt-Ruddy said that this effort will include reducing management levels and increasing the number of people reporting to each manager.

More changes are expected at Wells Fargo Advisors. Major policy and organizational changes for Wells Fargo's wealth and investment management division are expected to be announced soon. The wealth and investment management division of Wells Fargo is led by Barry Sommers, who joined Wells Fargo in June 2020 after leaving J.P. Morgan Chase.

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