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Wells Fargo has named COO Scott Powell as its next chief risk officer when Derek Flowers retires in mid-January 2027. At Barclays, Phil Beale has succeeded Matthew Stevens, whose retirement took effect on 11 September 2026. A broader set of personnel changes reported by Risk.net includes a Société Générale reshuffle across global markets and French retail banking, plus moves at FNZ, Citi, Two Sigma and other financial firms.
Who are the new CROs at Wells Fargo and Barclays?
| Bank | Outgoing CRO | Incoming CRO | Timing and status | Confirmation |
|---|---|---|---|---|
| Wells Fargo | Derek Flowers | Scott Powell | Powell is to take over when Flowers retires in mid-January 2027. | Wells Fargo announcement, 23 September 2026. |
| Barclays | Matthew Stevens | Phil Beale | Stevens retired and Beale succeeded him effective 11 September 2026. | Risk.net reported the change and said a bank spokesperson confirmed Beale’s appointment. |
Wells Fargo: Scott Powell to succeed Derek Flowers
Wells Fargo said on 23 September 2026 that Flowers intends to retire in mid-January 2027, after nearly three decades at the bank. He joined in 1995, held roles including chief credit officer and has been CRO since 2022, according to the bank’s announcement. Powell, COO since December 2019, will become CRO upon Flowers’s retirement. The bank said it would name Powell’s successor as COO in the near future; it had not named one in the announcement.
Chairman and CEO Charlie Scharf said: “Derek played a pivotal role in strengthening our risk and control framework and fostering the strong risk culture that positions Wells Fargo for continued growth.” This is Scharf’s assessment of Flowers’s contribution, not an independent measure of risk performance.
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Barclays: Phil Beale succeeds Matthew Stevens
Risk.net reported on 2 October 2026 that Stevens retired as Barclays CRO effective 11 September, after 34 years with the bank, and that Beale succeeded him. Beale returned to Barclays after serving as deputy group CRO at Aldermore Bank. Risk.net, citing Beale’s LinkedIn profile, says he previously spent 12 years at Barclays through 2022, most recently as CRO for its business bank, mortgages and ventures.
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What are Société Générale’s latest leadership changes?
Risk.net’s 2 October 2026 report describes changes under global markets head Hatem Mustapha across the UK, the Americas and Japan, as well as a French retail banking leadership appointment. The November appointments below were still future changes as of 3 October 2026.
UK global markets: Salim Nemouchi to take over in November
Salim Nemouchi is due to become head of global markets, UK, in November 2026, succeeding Albert Loo. Nemouchi will relocate to London and retain his role as global head of prime services. Loo is moving to Paris, where he will continue as global head of financial institutions coverage within global banking and advisory and as head of investor coverage. Risk.net reported the changes and noted a spokesperson confirmation of Nemouchi’s retained prime-services role.
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Americas equities: Natasha Dadlani and Stephane Dahome to co-lead
From November 2026, Natasha Dadlani and Stephane Dahome are due to become co-heads of equities and equity derivatives for the Americas. They will be based in New York and report to Sylvain Cartier, head of global markets Americas. Dahome most recently led linear trading within equity derivatives Americas; Dadlani most recently led equity derivatives and quantitative investment strategy sales, according to Risk.net.
Japan: Tomoyuki Sasi appointed from 1 September
Risk.net reports that Tomoyuki Sasi became head of global markets, Japan, effective 1 September 2026, succeeding Marc Saffon. Saffon became group country head for Japan on the same date. Sasi reports functionally to Mohamed Braham and locally to Koji Shimamoto, president of SG Securities Japan. The report’s article text spells the surname “Sasi,” while its image caption uses “Sasai”; the discrepancy is unresolved in the available account.
French retail banking: Benoit Grisoni becomes deputy head
Benoit Grisoni became deputy head of French retail banking, private banking and insurance on 1 October 2026, Risk.net reported. He reports to Lubomira Rochet and the group COO while remaining CEO of BoursoBank.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What other financial-sector appointments and departures were reported?
The remaining items below are also from Risk.net’s 2 October roundup. They are attributed to that report; its coverage does not establish first-party confirmation for every move.
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- FNZ: Group CEO Blythe Masters is leaving. Executive group chair Stephen Welch will assume the role’s responsibilities while the board searches for a permanent CEO.
- Citi: Andrei Kazantsev is joining as global head of FX exotics trading in London.
- Two Sigma: Ian Jackson is becoming CRO as Satish Ramakrishna retires.
- Eurex: CEO Robbert Booij is stepping down at year-end, with Eric Leupold named as his successor.
- OCC: Jake Middleton was appointed chief security officer effective 8 September 2026.
- ProShares: Alessio de Longis was hired as CIO and head of research, alongside several other hires.
- European Banking Authority: Thomas Gstädtner was confirmed as executive director for a five-year renewable term.
- Marex: Robert Cheeseman was appointed head of prime services Asia.
- ING: Paolo Esposito was appointed director of financial markets corporate sales.
- ICBC Standard Bank: Michael Grimwade announced his departure.
- AIMA: Board changes for the 2026–2028 term took effect on 9 September 2026.
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