Wells Fargo names new senior executive vice president, general counsel
“Allen is well known throughout the legal and financial services industries not only for advising some of the world’s largest companies on their most complex legal matters, but also for his strong character, integrity, and high ethical standards,” Wells Fargo CEO Tim Sloan in the release. “His background and corporate experience make him the ideal leader for this role as his efforts will be instrumental in helping our company continue to rebuild trust, make things right with customers, and build a better Wells Fargo.”
Parker will report to Sloan and will be responsible for the company’s legal affairs. He is taking over for James Strother, who is retiring after having the same role for 30 years. Strother will stay with the company for several months to ensure a smooth transition.
Parker, a member of the New York Bar Association, earned his bachelor's degree from Duke University and a master's from the University of Chicago before receiving his law degree from Columbia Law School. He worked at New York-based Cravath, Swaine & Moore LLP for more than 25 years, the release said.
“Jim (Strother) is an extraordinary leader and strategic adviser who has helped our company navigate through a period of great change and many unprecedented events during his 30-year career at Wells Fargo, including the purchase of Wachovia — the largest, most complex banking merger in U.S. history — as well as the purchase of the GE Capital portfolio and the work we are doing today to rebuild trust with all of our stakeholders,” Sloan said in the release. “He has developed and led an excellent legal team, been a long-time advocate for team member engagement, diversity and inclusion, and mentoring, and exemplifies our values in all that he does. His impact will be felt for many years to come.”