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Wells Fargo appoints new head of wealth brokerage services’ division

Wells Fargo has appointed Jim Hays as the new executive vice president and head of its wealth brokerage services' unit.

In his new role, Hays will lead 3,800 financial advisors and support staff delivering brokerage services to clients of the wealth unit.

Additionally, he will also manage the business’ partnership with the firm’s network of community bank stores, which offers a number of investment products to US affluent customers.

Prior to accepting the current role, Hays worked as a president of the private client group, since 2005, which has approximately 11,500 brokers working for the bank’s brokerage branches.

Before joining the firm’s Advisors division, he served in a number of key positions during his 18-year stint with Merrill Lynch, including managing director and head of its private banking/investment group.

Wealth Brokerage Services managed $1.2 trillion in client assets, as of 30 June 2012.

Established in 1852, the financial group provides banking, insurance, investments, mortgage, and consumer and commercial finance through over 9,000 stores, and12,000 ATMs.