Julia Wellborn named head of Wells Fargo private wealth management division

Julia Wellborn, who heads the wealth management business at Comerica Bank, has been named head of private wealth management at Wells Fargo, a role that includes leading the company's private bank and its Abbott Downing unit that serves ultra-high-net-worth individuals and families. (More:​ Wells Fargo could be putting more of its focus on wealth management) Ms. Wellborn, who is expected to begin at the end of August, replaces Tim Traudt, who served as interim head of wealth management since April when he replaced Jay Welker, who retired amid reports of a company investigation into alleged gender bias in the wealth management unit. Ms. Wellborn joined Comerica in 2009 after serving as president of the North Texas Region for Wachovia Corporation, a Wells Fargo predecessor. She is currently based in Dallas and will relocate to New York City in the future.