Wells Fargo & Company announced that David Kowach has been named president and head of Wells Fargo Advisors, LLC (WFA), the company’s national retail brokerage, effective immediately. Kowach will report to David Carroll, senior executive vice president and head of Wells Fargo Wealth and Investment Management (WIM). He succeeds Mary Mack, who was named head of Community Banking for Wells Fargo effective July 31.
Kowach has worked in the financial services industry for 25 years and has been with Wells Fargo and its predecessors for almost his entire career. Since 2012 he has served as head of WFA’s Private Client Group, WFA’s largest business channel with nearly 11,000 financial advisors who serve clients in all 50 states. Kowach will continue to be based in St. Louis and will lead the WFA Operating Committee. The company will address the matter of Kowach’s successor shortly.
“Ever since he began his career as a financial advisor, David Kowach has been focused on what is best for clients,” Carroll said. “David is well known and highly respected for his industry knowledge, deep relationships and proven results. He has a demonstrated track record of creativity and a vision for the evolution of the advisory business that is so important to our future competitiveness.”
Prior to leading the Private Client Group, Kowach led WFA’s Business Development Group where he was responsible for financial advisor recruitment and retention, growth strategies and national sales. He began his career as a financial advisor in the Philadelphia area.
“I've always believed that Wells Fargo’s advisors and team members are the best in the industry when it comes to serving clients,” said Kowach. “I’m so proud and honored for the opportunity to work with them and our partners to take care of clients and prepare our business for the future.”
Kowach is a graduate of Villanova University with a degree in finance. He actively supports several St. Louis-area charitable organizations, including the St. Louis Zoo, United Way, Forest Park Forever and Central Institute for the Deaf.
With $1.5 trillion in client assets as of June 30, 2016, Wells Fargo Advisors provides investment advice and guidance to clients through 15,042 full-service financial advisors and 3,900 licensed bankers.