Wells Fargo said Chief Risk Officer Derek Flowers will retire in mid-January after nearly three decades at the U.S. bank. Flowers joined Wells Fargo in 1995, held various roles and has served as chief risk officer since 2022. Chief Operating Officer Scott Powell will succeed him, while Wells Fargo plans to name Powell’s successor in the near future. CEO Charlie Scharf said Flowers strengthened the bank’s risk and control framework and helped foster its risk culture.