Wells Fargo named Laura Schupbach, leader of the company’s insurance business, to be the bank’s head of dealer services, effective Monday.
Schupbach succeeds Dawn Martin Harp, who retired April 1. Harp announced her retirement in January after more than two decades with the company. Wells Fargo’s auto lending portfolio grew to more than $60 billion under Harp’s five-year tenure as head of the business.
Schupbach, who has been with Wells Fargo for two decades, has led its insurance business since 2011, the bank said. The Wells Fargo insurance arm addresses the insurance and risk management needs of consumers, affluent clients, small businesses, middle-market and corporate clients, the statement said.
She will remain in Phoenix and will report to Franklin Codel, head of consumer lending.
“The auto lending business is, and will continue to be, an important business for Wells Fargo because it meets a critical customer need,” Codel said in the statement. “As we look to the future, Laura will help us build on our strong foundation while deepening our focus on consumer-customer and dealer relationships. Laura brings her experience working with wholesale clients along with her passion for operational excellence and consumer background to the role.”
Before leading the insurance business, Schupbach managed cross-company operational initiatives and served in senior finance and business roles in the wholesale banking group and diversified products group.