Wells Fargo Taps Former Mastercard Exec To Run Merchant Services

Wells Fargo announced it has hired Colleen Taylor to run its Wells Fargo Merchant Services, which shepherds the direction and oversight of its merchant services business as well as a joint initiative with Fiserv, according to a release by the company.

Taylor has 30 years of experience in the payments field. Her most recent position was as an executive vice president at Mastercard, where she helped to drive growth for the company in the areas of B2B, government and payment segments.

Taylor will report directly to the Head of Treasury, Merchant and Payment Solutions Danny Peltz.

“The addition of a strategic leader like Colleen adds to our depth of experience, furthering our commitment in payments and delivering convenient and efficient solutions to businesses of all sizes,” Peltz said.

Taylor also previously worked at Capital One, Chase Manhattan Bank and JPMorgan. She graduated from Spelman College and earned her MBA from The Wharton School at the University of Pennsylvania. Her first day will be Aug. 26, and she will be based in New York City.

Last month, Wells Fargo also added four new executives to its roster. The company revealed that David Kowach has been named head of community banking, while Jim Hays has come on board as president and head of Wells Fargo Advisors. Andy Rowe is the enterprise customer excellence executive, and Elli Dai has been hired as the small business and personal lending group executive. Kowach, Rowe and Dai will report to Mary Mack, head of consumer banking, and Hays will report to Jonathan Weiss, head of wealth and investment management.

“These new roles and leaders will help advance Wells Fargo’s top three priorities: focusing on our customers and team members, meeting the expectations of our regulators and continuing the important transformation of the company,” Interim Chief Executive Officer Allen Parker said in a press release. “Our commitment to these priorities and to a new level of excellence in customer care is critically important, and I believe these leaders will help propel Wells Fargo forward.”