Wells Fargo Appoints Michael Liersch to Spearhead Private Wealth Management's Advisory Division

Financial Services Leader Brings Cross-Industry Expertise to Helm Planning and Growth Initiatives

Wells Fargo & Company has revealed the appointment of Michael Liersch as the new leader overseeing Advice and Growth Strategies within its Private Wealth Management unit under Wealth & Investment Management. In this capacity, Liersch will oversee a consolidated division tasked with delivering comprehensive financial planning services and expansion strategies to clientele served through Wells Fargo Private Bank and Abbot Downing, incorporating specialized offerings in family dynamics consultation and business succession planning.

A Track Record of Excellence in Behavioral Finance

Michael Liersch arrives at Wells Fargo from JPMorgan Chase, where he held the position of managing director and served as the global head of Wealth Planning & Advice. His professional journey encompasses roles of increasing responsibility across the industry’s most prominent institutions. Previously, he established himself as head of Behavioral Finance and Goals-based Consulting at Bank of America-Merrill Lynch, and held the position of regional head of Behavioral Finance at Barclays Wealth for the Americas division. Liersch has also contributed to academic pursuits as a faculty member at New York University, where he instructed courses in management and organizational analysis.

Strategic Timing and Organizational Vision

Julia Wellborn, who leads Wells Fargo’s Private Wealth Management operations, underscored the significance of Liersch’s appointment: “His extensive background in behavioral finance, combined with his acute comprehension of our clients’ sophisticated financial circumstances, positions him ideally for this responsibility. At a moment when both our organization and the wealth management sector face unprecedented transformation, Michael’s capabilities will amplify our capacity to deliver the guidance our most demanding clients require.”

Reflecting on his transition, Liersch emphasized his enthusiasm: “Wells Fargo represents an exceptional opportunity during a period of substantial organizational evolution. I’m gratified to collaborate with this seasoned team and contribute to our collective objectives during a time when clients face mounting complexity in their financial decision-making.”

Professional Foundation and Expertise

Liersch’s educational credentials include a bachelor’s degree in economics from Harvard University and a doctoral degree in cognitive psychology from the University of California, San Diego. He has established himself as a thought leader through published research on behavioral finance and regularly contributes commentary to major media outlets. He will operate from the company’s New York City headquarters.

About Wells Fargo Private Wealth Management

The Private Wealth Management division, operating within Wealth & Investment Management, provides comprehensive wealth strategy services to high-net-worth and ultra-high-net-worth clients, entrepreneurs, and institutional family offices. Through its Wells Fargo Private Bank and Abbot Downing platforms, the division manages substantial client assets, supporting clients in achieving long-term financial objectives through integrated planning, advisory services, and tailored solutions. As of December 2019, Private Wealth Management administered $213 billion in client assets and deposits.

Wells Fargo’s Wealth & Investment Management operations deliver comprehensive financial solutions and advisory services through affiliated banking and brokerage entities across Wells Fargo & Company’s enterprise.

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) operates as a diversified financial services organization serving communities nationwide, with total assets of $1.98 trillion. Since its establishment in 1852, the company—headquartered in San Francisco—has expanded its service delivery through banking, investment advisory, and mortgage products, complemented by consumer and commercial financing capabilities. The organization reaches customers through approximately 7,400 physical locations, over 13,000 ATMs, digital platforms including wellsfargo.com, mobile applications, and a global network spanning 31 countries and territories. With a workforce exceeding 263,000 team members, Wells Fargo serves approximately one-third of American households. The organization ranked 30th among America’s largest corporations in Fortune’s 2020 assessment.

Investment and Insurance Products are NOT FDIC Insured, carry NO Bank Guarantee, and MAY Lose Value