Wells Fargo’s Weiss to Depart, Giving Rivas Sole Charge of CIB

Jon Weiss, co-chief executive officer of Wells Fargo & Co.’s corporate and investment bank, plans to depart, leaving Fernando Rivas the sole leader of a unit the bank has been beefing up with major hires.

Weiss, 67, the longest-standing member of the operating committee, will step down immediately from his role atop the CIB and retire formally on June 1, the San Francisco-based company said in a statement Thursday. Rivas, 50, joined Wells Fargo in May after almost three decades at JPMorgan Chase & Co.