Wells Fargo & Company announced that it has named Kate Clifford-Toomey as chief operating officer for Corporate Risk.
Clifford-Toomey will start on September 3, reporting to Chief Risk Officer Mandy Norton.
As COO, Clifford-Toomey will be responsible for coordinating risk operations, business architecture and strategy-related efforts across Corporate Risk functions, as well as managing the Risk Framework Office and Corporate Policy Office and working with the Board of Directors on governance requirements and expectations.
“Kate brings strong risk management experience and expertise that will be beneficial as we continue to strengthen our risk management capabilities and rebuild trust with our stakeholders,” Norton said in a press release. “We are pleased to have her join our team and help lead our risk transformation.”
With 20 years of experience, Clifford-Toomey was most recently at Deutsche Bank, where she was chief operating officer of the Americas and head of Americas Regulatory Transformation. Previously, she worked at Bank of America, J.P. Morgan Securities and Pricewaterhouse Coopers.
This week it was reported that the bank could name interim chief executive Allen Parker as its permanent CEO.
Sources said that the Wells Fargo board is considering Parker even though it has said in the past it would look for an executive outside of Wells Fargo to lead the bank. Parker was named acting CEO in March after ex-CEO Tim Sloan resigned, citing pressure from lawmakers and regulators.
While the board wanted to hire a CEO outside of Wells Fargo, the search has been difficult. One reason is because Wells Fargo might not be able to pay a high enough salary to lure leaders from rival banks, while another could be that a CEO would face a lot of scrutiny by U.S. regulators. As a result, board members started getting more comfortable with Parker being named the permanent CEO after winning over investors, regulators, and employees.
As the calendar flips to March, college basketball fans are gearing up for another exhilarating NCAA tournament.
In the future, artificial intelligence and cutting-edge technology could change March Madness as we know it. Let’s break down how the digital revolution could transform the Big Dance.
AI is already being used to predict brackets. Gone are the days of agonizing over your picks based on team mascots or your alma mater’s colors. In 2025, AI-powered bracketology is the name of the game. Fans can use algorithms that crunch data points, from player statistics to historical upset probabilities, all at the click of a button.
But beware, bracket enthusiasts. While these AI tools promise to boost your chances of winning the office pool, they can’t account for the quintessential March Madness chaos. You know, the instance where AI can predict everything except the inevitable Cinderella story that ruins everyone’s bracket by the second round.
In a move that would be sure to ruffle some feathers, AI-generated commentary could be used for games. Digital play-by-play announcers would never need a bathroom break and potentially be able to recall obscure statistics from the 1957 tournament in an instant.
Can’t make it to the Final Four? Ten years from now, games might happen in a digital stadium, Forbes reported. With virtual reality (VR) technology, fans could experience the thrill of courtside seats from the comfort of their living rooms.
“AI-generated athletes, inspired by the procedural generation techniques of video game developers … could perform in virtual arenas, exhibiting strategies and plays conceived by advanced predictive algorithms,” Forbes reported.
Just be careful not to get too caught up in the moment with streaming. Wouldn’t want to have reports of fans attempting to rush the virtual court after buzzer-beaters have led to an uptick in living room injuries — especially when that flat screen falls over.
While human coaches still call the shots, AI assistants could one day be indispensable members of the coaching staff. In the next five years, these digital strategists could analyze opponent tendencies and more.
“Building on existing technologies … AI will provide coaches and players with intricate, multi-dimensional data patterns that dramatically enhance both offensive and defensive strategies,” Forbes reported. “These advanced algorithms will analyze vast datasets from numerous games to uncover hidden trends, strategic insights, and predictive cues about opponents’ potential moves.”
Say goodbye to controversial calls. Advanced computer vision systems could assist referees in making split-second decisions, from determining if a player’s toe was on the line for a three-pointer to detecting the slightest touch on a blocked shot.
The Hawk-Eye system is already used in tennis and cricket to help determine fouls, Viso.AI reported.
“This system uses a network of cameras to track the ball and then compares the trajectory of the ball to a virtual model of the playing surface,” the report said. “This system is accurate within a few millimeters, which is much more accurate than the human eye.”
As we dive into March Madness 2025, it’s clear that technology will change the way we experience the tournament. From AI-powered brackets to virtual reality arenas, the digital revolution is coming for basketball. But at its core, the magic of March Madness remains the thrill of competition, the joy of unexpected victories, and the heartbreak of last-second defeats.
So, whether you’re relying on an AI to pick your bracket this year, or screaming at a holographic referee in the future, remember to enjoy the ride. In the unpredictable world of college basketball, sometimes the best strategy is to embrace the madness — digital or otherwise.
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