Wells Fargo announced that Mike Riley and Dan Thomas have been named co-heads of the Markets division of the Corporate & Investment Bank (CIB). Riley and Thomas will lead all of CIB’s markets-driven activities, including: Asset-Backed Finance, Equities (including Equity Research and Strategy), Macro and Spread. Most recently, Riley held the role of head of Equities and Thomas served as chief financial officer of CIB. They will report to Jon Weiss, CEO of the Corporate & Investment Bank, and they succeed Walter Dolhare who served as head of Markets until his retirement earlier this year.

“Mike and Dan are strategic leaders and superb risk managers, with longstanding institutional knowledge, industry relationships, and proven track records running high performing teams,” said Weiss. “I look forward to leveraging their collective leadership, expertise and insights to chart the future of our Markets business and enhance its role as an important contributor to growth opportunities within our Corporate & Investment Bank.”

Riley joined Wells Fargo in 2013 as co-head of Equity Trading. In 2014, he became co-head of Equities and in 2017, he was named head of Equities. Before joining Wells Fargo, he was head of Options trading at Getco. Prior to that, he was co-head of Equity Derivatives Trading for the Americas at UBS. Riley was a decorated officer in the Navy where he served aboard the nuclear submarine USS Memphis.

Thomas, who currently reports to Mike Santomassimo, chief financial officer of Wells Fargo, has held various leadership roles over the course of his more than 25-year career at Wells Fargo, including its predecessor Wachovia. Most recently, he served as chief financial officer of CIB and, prior to that role, he was head of CIB’s Financial Resource Management (FRM) team. In 2013, he led the creation and build-out of Wells Fargo’s prime brokerage and derivatives clearing businesses. In addition, his leadership experience includes serving as the head of Rates and Commodities Sales for Wells Fargo, and head of the Global Rates business for Wachovia.