MONEY MANAGEMENT

Wells Fargo appoints new head of investment management

Jonathan G. Weiss was named senior executive vice president and head of wealth and investment management at Wells Fargo & Co., effective July 1, said Elise Wilkinson, spokeswoman, in an email.

He will replace David M. Carroll, who is retiring. He will leave his current role on July 1 and stay with the company until July 31 to “ensure a smooth transition,” according to the release.

Mr. Weiss, who is currently the head of Wells Fargo Securities, will join the company's operating committee and report to Timothy J. Sloan, Wells Fargo's president and CEO.

Wells Fargo's wealth and investment management business have $2.3 trillion in assets under management.