Daily News: January 31, 2018

Dahlgren Named Wells Fargo Head of Regulatory Relations

Wells Fargo named Sarah Dahlgren its head of regulatory relations. She will report to Mike Loughlin, Wells Fargo’s chief risk officer, until his successor is named. Loughlin announced his retirement on January 17. Dahlgreen will join the company on March 12 and be based in New York City.

“Wells Fargo is focused on transforming our risk management practices and we are committed to being very engaged and completely transparent with our regulators so they have a full understanding of the progress we are making in building a stronger organization,” said Wells Fargo CEO Tim Sloan. “Hiring a leader with Sarah’s background is another important step in strengthening our risk infrastructure and organization.”

Dahlgren will be responsible for oversight of regulatory relations for Wells Fargo’s Corporate Risk organization. She will work with the supervisory staffs of the company’s federal regulators and with colleagues to coordinate efforts with regulators in other jurisdictions.

“Sarah’s deep understanding of financial services regulation is a welcome addition to our Corporate Risk team,” Loughlin said. “With Sarah’s leadership, I am confident we will strengthen our ability to communicate with our regulators about our progress, solicit their feedback and input and consistently meet our regulatory obligations.”

Dahlgren joined McKinsey in 2016. Before that, she had a 25-year career at the Federal Reserve Bank of New York, where she started as an examiner and rose to become executive vice president and head of financial-institution supervision. In that position, she was responsible for overseeing many of the largest banks operating in the U.S. and developing new supervisory policies and procedures. Additionally, Dahlgren is a board member of the Duke University Sanford School of Public Policy.