Wells Fargo names David Kowach to head brokerage business

Wells Fargo & Co. named David Kowach to replace Mary Mack as head of the bank's national retail brokerage business. He will report to David Carroll, the head of Wells Fargo's wealth and investment management group, according to a statement Thursday from the bank. Mr. Kowach was previously the head of the private client group within Wells Fargo Advisors and will start his new role immediately in St. Louis. The San Francisco-based bank began searching last month for a new president of Wells Fargo Advisors to succeed Ms. Mack, who left her position to oversee community banking. The private client group is Wells Fargo Advisors' largest business segment with almost 11,000 financial advisers, according to the statement. Before taking over that group in 2012, Mr. Kowach led business development for the brokerage unit, responsible for the recruitment of financial advisers, growth strategies and national sales.