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Wells Fargo’s Top Mortgage Exec to Retire

Mark Oman, senior EVP and head of the Home and Consumer Finance Group at ""Wells Fargo & Company"":http://www.wellsfargo.com, plans to retire at the end of this year.

Oman previously announced his intention to retire in 2008 but stayed on to help the bank with its acquisition of Wachovia.

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""After our merger with Wachovia was announced in October 2008, I asked Mark to delay his retirement,"" said John Stumpf, chairman, president, and CEO of Wells Fargo. ""We needed Mark's expertise to help guide us through the integration of our mortgage businesses and to provide executive oversight for our newly acquired Wachovia Pick-A-Payment portfolio.""

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Stumpf continued, ""Now that the combined mortgage businesses are completely integrated and achieving record levels of market share, and the Pick-A Payment loan portfolio is outperforming expectations, Mark will be able to enjoy the retirement he has planned for so long and he so well deserves.""

Oman, who joined Wells Fargo in 1979, has held several senior management positions in the bank's consumer lending businesses. He helped grow Wells Fargo's home mortgage business into the largest originator of home mortgages in the nation and the second largest servicer of mortgages.

""When I joined Wells Fargo more than 30 years ago, I never imagined all of the wonderful people I would have the opportunity to work with, the accomplishments we would achieve together, and the millions of customers we would help achieve financial success and the dream of homeownership,"" said Oman. ""Our team and Wells Fargo overall is blessed with some of the most extraordinary leaders in the financial services industry.""

Mike Heid and Cara Heiden, who report to Oman, remain in their roles as co-presidents of Wells Fargo Home Mortgage.

""Wells Fargo has a deep and talented pool of senior leaders,"" Stumpf said. ""And we expect to name Mark's successor well in advance of his retirement.""

About Author: Heather Cernoch

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