The turnover of executives at Wells Fargo continues as the bank announced a series of new hires. Since the hiring of Charlie Scharf as chief executive officer in the fall of 2019, Wells Fargo's leadership has undergone a transformation.

Among the newly announced additions is Paula Dominick, who will take over as the chief compliance officer in October. Dominick is currently the chief compliance officer at Credit Suisse USA. Dominick will replace Mike Roemer, who has served as Wells Fargo's chief compliance officer for the past two and a half years.

The hiring of Dominick is one of a flurry of moves made as Wells Fargo seeks to bolster its risk management. Wells Fargo also announced that Patrick Dillon will serve as the enterprise testing and validation leader. Dillon will be tasked with leading a team to develop standards and methods for reviewing activities company-wide.

Additionally, Wells Fargo announced that they had hired or promoted four individuals to the positions of chief risk officer. Brian King was hired as the chief risk officer of consumer and small-business banking, Ellen Koebler was hired as chief risk officer of commercial banking, Prasanna Someshwar was hired as the chief risk officer of wealth and investment management, and Jeff Colson was promoted to chief risk officer of finance.

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