Steve Ellis, head of the Wells Fargo Innovation Group, will retire after nearly 31 years with the company. In September, Lisa Frazier will become head of the group, which focuses on accelerating Wells Fargo’s delivery of next-generation products and services.
“Steve has been a champion for customer-centric innovation since he joined the company more than three decades ago,” said Avid Modjtabai, head of Payments, Virtual Solutions and Innovation for Wells Fargo. “He has been a mentor to many, and his influence is reflected in how we’re reimagining the future of banking. He has been a trusted advisor to me over the years, and I wish him the best in his well-deserved retirement.”
The Wells Fargo Startup Accelerator and upcoming Greenhouse app are among the initiatives developed under Ellis’s leadership. Previously, Ellis led the Wholesale Services Group, including Treasury Management; Wholesale Banking Technology and Operations; Wholesale Social Strategies, Innovation and Research and Development and the Enterprise Payment Strategies Group.
Frazier has led highly regarded digital programs for Commonwealth Bank of Australia and as a partner at McKinsey & Company. Most recently, she focused on advising startup companies on growth, with examples including product development at Jacobi and scaling enterprise integrations of digital wealth management solutions at SigFig for financial institutions like Wells Fargo. Frazier also has served as an advisor to the ANZ Banking Group and Citi FinTech.
“I am excited to have Lisa serve as a catalyst for innovation at Wells Fargo,” Modjtabai said. “Her vision, passion, and deep experience in digital transformation at scale will help us further our efforts to build simple, personalized experiences that make a difference in our customers’ lives.”
Frazier will join the company on May 29 and will be based in San Francisco. Ellis will continue in his role until September to ensure a smooth transition.
