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Wells Fargo & Co.’s WFC chief control executive, Nate Herman, is stepping down after some three years in the role, according to a memo seen by the Wall Street Journal. The move comes as the bank tries to strengthen its internal control protocols in the wake of the fake accounts scandal that surfaced in 2016. The Journal said that Herman was leaving to “spend more time with his family.” Steve Kiker, chief operating officer for Wells Fargo’s corporate and investment bank, will replace him, according to the Journal. Shares were up 0.3% on Wednesday.
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