Wells Fargo has named COO Scott Powell as its next chief risk officer, with the change planned for mid-January 2027 when Derek Flowers intends to retire. At Barclays, Phil Beale has succeeded Matthew Stevens, whose retirement took effect on 11 September 2026. Société Générale has also announced leadership changes across global markets and French retail banking, alongside other financial-services appointments reported by Risk.net on 2 October 2026.
Who are the new CROs at Wells Fargo and Barclays?
| Bank | Outgoing CRO | Incoming CRO | Timing and confirmation |
|---|---|---|---|
| Wells Fargo | Derek Flowers | Scott Powell, currently COO | Flowers intends to retire in mid-January 2027; Powell is due to take over then. Wells Fargo announced the plan on 23 September 2026. |
| Barclays | Matthew Stevens | Phil Beale | Stevens retired effective 11 September 2026. Risk.net reported the succession on 2 October and said a bank spokesperson confirmed Beale’s appointment. |
Wells Fargo: Powell is set to take over in January
Wells Fargo said on 23 September 2026 that Flowers intends to retire in mid-January 2027 and that Powell will become CRO upon his retirement. Flowers joined the bank in 1995 and has been CRO since 2022, according to the bank. Powell has been COO since December 2019 and previously held a range of risk-management roles. The bank said Powell’s successor as COO would be named in the near future.
Wells Fargo chairman and CEO Charlie Scharf said: “Derek played a pivotal role in strengthening our risk and control framework and fostering the strong risk culture that positions Wells Fargo for continued growth.” This is the bank’s characterization of Flowers’s contribution.
Wells Fargo’s 23 September 2026 announcement
Barclays: Beale succeeds Stevens
Risk.net reported that Stevens retired as Barclays CRO on 11 September 2026 after 34 years at the bank, and that Beale succeeded him. The report says a Barclays spokesperson confirmed Beale’s appointment. Citing Beale’s LinkedIn profile, Risk.net says he returned to Barclays after serving as deputy group CRO at Aldermore Bank; he had previously spent 12 years at Barclays through 2022, most recently as CRO for its business bank, mortgages and ventures.
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Risk.net’s report on the Barclays succession
What are the latest Société Générale leadership changes?
Risk.net reported a set of appointments under global markets head Hatem Mustapha, with changes in the UK and Americas scheduled for November 2026 and appointments in Japan and French retail banking already effective by 3 October.
| Role or area | Change | Effective date or timing |
|---|---|---|
| Global markets, UK | Salim Nemouchi succeeds Albert Loo; Nemouchi retains global head of prime services. Loo moves to Paris to continue as global head of financial institutions coverage within global banking and advisory, and as head of investor coverage. | November 2026 |
| Equities and equity derivatives, Americas | Natasha Dadlani and Stephane Dahome become co-heads, based in New York and reporting to Sylvain Cartier, head of global markets Americas. | November 2026 |
| Global markets, Japan | Tomoyuki Sasi succeeds Marc Saffon. Saffon becomes group country head for Japan. Sasi reports functionally to Mohamed Braham and locally to Koji Shimamoto, president of SG Securities Japan. | 1 September 2026 |
| French retail banking, private banking and insurance | Benoit Grisoni becomes deputy head, reporting to Lubomira Rochet and the group COO; he remains CEO of BoursoBank. | 1 October 2026 |
UK and Americas changes planned for November
Nemouchi is due to relocate to London when he becomes head of global markets for the UK in November, succeeding Loo. Risk.net said a spokesperson confirmed Nemouchi would retain his global prime-services role. Loo is moving to Paris for his continuing coverage roles.
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Dadlani and Dahome are also due to take up their Americas co-head roles in November. Risk.net says Dahome most recently led linear trading within equity derivatives Americas, while Dadlani most recently led equity derivatives and quantitative investment strategy sales.
Japan and French retail appointments already effective
Sasi’s appointment as head of global markets, Japan, took effect on 1 September 2026, with Saffon becoming group country head for Japan on the same date. Grisoni became deputy head of French retail banking, private banking and insurance on 1 October 2026 while remaining BoursoBank’s CEO.
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Risk.net’s article text spells the Japan appointee’s name “Tomoyuki Sasi”; its image caption uses “Sasai.” The report’s spelling is used here, but the discrepancy means the spelling is not consistent within that source.
Risk.net’s report on Société Générale’s appointments
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What other financial-services moves were reported?
Risk.net’s 2 October roundup also listed the following appointments and departures. The items below are attributed to that report; its roundup does not establish first-party confirmation for every move.
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- FNZ: Group CEO Blythe Masters is leaving. Executive group chair Stephen Welch will assume the role’s responsibilities while the board seeks a permanent CEO.
- Citi: Andrei Kazantsev is joining as global head of FX exotics trading in London.
- Two Sigma: Ian Jackson is becoming CRO as Satish Ramakrishna retires.
- Eurex: CEO Robbert Booij is stepping down at year-end, with Eric Leupold named as his successor.
- OCC: Jake Middleton was appointed chief security officer effective 8 September 2026.
- ProShares: Alessio de Longis was hired as CIO and head of research, alongside several other hires.
- European Banking Authority: Thomas Gstädtner was confirmed as executive director for a five-year renewable term.
- Marex: Robert Cheeseman was appointed head of prime services Asia.
- ING: Paolo Esposito was appointed director of financial markets corporate sales.
- ICBC Standard Bank: Michael Grimwade announced his departure.
- AIMA: Board changes for the 2026–2028 term took effect on 9 September.
Risk.net’s 2 October 2026 personnel roundup
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