On January 21, Wells Fargo, a U.S. bank, appointed Ed Olebe, formerly of JPMorgan Chase, as the new head of cards and merchant services, effective immediately. Olebe takes over from Ray Fischer, who is retiring.
Kleber Santos, CEO of consumer lending at Wells Fargo, emphasized, "Ed’s industry expertise and deep experience will be invaluable to Wells Fargo as we continue to grow our credit card business and expand our payment capabilities across Merchant Services."
Prior to joining Wells Fargo, Olebe headed Chase's co-branded cards business after serving as president of branded cards. He also held roles at Mastercard and American Express in his career.
Fischer, who informed Wells Fargo of his retirement decision in 2019, had been leading the cards, retail, and merchant services division since 2019. Wells Fargo's CFO Michael Santomassimo remarked during an earnings call, "He's old enough to deserve to retire."