May 29, 2019 / 6:12 PM / 5 months ago

Wells Fargo adds former Bank of America executive to board

FIL EPHOTO: A Wells Fargo sign is seen outside a banking branch in New York July 13, 2012. Wells Fargo & Co reported a 17 percent increase in second-quarter profit Friday on strong mortgage banking income and improved credit quality. REUTERS/Shannon Stapleton

NEW YORK (Reuters) - Wells Fargo & Co said on Wednesday the bank’s board of directors had elected former Bank of America Corp executive Charles Noski to join the board.

Noski’s appointment, effective on June 1, expands the board to 13 seats. He will serve on its audit and examination committee.

Wells Fargo’s board has been shuffled many times since the bank became mired in scandal roughly 2-1/2 years ago. More than half of the company’s independent directors joined the board after 2016.

Noski joined Bank of America in 2010 as chief financial officer while the bank was still trying to turn itself around and recover from the financial crisis. He retired in 2012 after helping the bank change its mortgage lending business model.

Noski currently serves on the boards of Microsoft Corp and Booking Holdings Inc and has held director positions at companies including Morgan Stanley, AT&T and Northrop Grumman.

Reporting by Imani Moise; Editing by Tom Brown

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