Wells Fargo Names John Rasmussen Head of Education Financial Services

Financial services and company veteran to lead nation’s #2 provider of private student loans

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo Education Financial Services – a business group within Wells Fargo’s Consumer Lending Group – has named financial services veteran John Rasmussen head of Education Financial Services, effective February 11, 2013.

“We know that financing higher education is one of the biggest decisions many families make when managing their personal finances. It’s important to our customers, which makes it important to us”

Wells Fargo Education Financial Services, the nation’s #2 provider of private student loans, serves more than 1.9 million student and family customers in all 50 states, helping customers make smart borrowing decisions to finance education.

Rasmussen, a 20-year veteran of the banking industry, has held leadership roles with several of the nation’s top financial service providers including the last eight years with Wells Fargo. Most recently, Rasmussen led the Centralized Retail business for Wells Fargo Home Lending, which included all home lending customers who chose to do business via the telephone, rather than in a store location. The Centralized Retail business, combined with Wells Fargo’s Distributed Retail business which includes bank stores, together served more than 1 million customers during 2012. In his new role, Rasmussen will report to Tom Wolfe, head of Wells Fargo Consumer Credit Solutions, which offers an array of consumer finance products including student loans, credit cards, auto loans, personal loans and lines of credit.

“We know that financing higher education is one of the biggest decisions many families make when managing their personal finances. It’s important to our customers, which makes it important to us,” says Tom Wolfe, head of Wells Fargo Consumer Credit Solutions. “I am confident that John’s strategic business perspective and high level of integrity, combined with his focus on customers and decades of financial service experience will be great assets to our team as we continue to focus on helping make the dream of a college education a reality for our customers.”

About Education Financial Services

Wells Fargo Education Financial Services, the nation’s #2 provider of private student loans, serves more than 1.9 million student and family customers in all 50 states and has been in the student lending business for 44 years helping customers make smart borrowing decisions to finance education. Education Financial Services provides customers with financial tips and tools to keep their finances on track while in school and prepare them financially for when they finish college. Wells Fargo markets its education products to colleges and universities, directly to consumers and through Wells Fargo Bank. As part of the organization’s commitment to education, during 2011 Wells Fargo’s community contributions included $68 million to 8,000 educational programs and schools across the U.S.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.