Eric Bartoli was charged with engaging in a Ponzi scheme through the late 1990s, but federal authorities admit his prison time was double what was suggested, according to the Akron Beacon Journal.
Nancy Sumption has an extensive background in the public and private sectors, including stints in the U.S. intelligence community and the Department of Justice, according to the SEC.
Current head of Wells Fargo's wealth unit Jon Weiss will move to the corporate and investment banking division, as part of a larger reorganization at the bank. The search for a replacement is under way.