Wells Fargo (WFC) has appointed Faraz Shafiq as head of AI Products and Solutions, starting Feb. 9, amid the bank’s efforts to leverage AI for financial services and help streamline its operations, it said on Monday.
Shafiq will report to Saul Van Beurden, head of AI and co-CEO of Consumer Banking and Lending, and work out of San Francisco, California.
“Hiring top talent is a critical factor to expand AI faster with higher impact,” said Van Beurden. “Faraz’s deep expertise in generative and agentic AI and proven leadership in scaling enterprise platforms, will accelerate the execution of our strategy of using AI to transform how we work and how we serve our customers, and ultimately propel the growth of the bank.
Shafiq most recently worked at AI infrastructure giant Amazon Web Services (AMZN). He also has previous work experience at Verizon (VZ), AT&T (T) and Google (GOOG) (GOOGL).
WFC shares edged up 0.2% in premarket trading.