Mike Santomassimo
Chief financial officer of Wells Fargo.
Mike Santomassimo, Wells Fargo's chief financial officer, said on 16 July that AI helps the bank cut headcount "in a different way or faster" than before, not that AI caused the cuts outright.
Last refreshed: 17 July 2026 · Appears in 1 active topic
Timeline for Mike Santomassimo
Wells Fargo cuts, and names the machine
AI: Jobs, Power & MoneyBackground
Mike Santomassimo is chief financial officer of Wells Fargo. He joined the bank as CFO in autumn 2020, succeeding John Shrewsberry after a 30-year banking career. Before Wells Fargo he was CFO at BNY Mellon, and before that CFO for banking at JPMorgan Chase, covering investment banking advisory, equity and debt capital markets, and treasury services. He started his career at Smith Barney, and holds a finance degree from The American University and an executive MBA from New York University.
At Wells Fargo he oversees accounting and control, financial planning, treasury, tax, corporate development and investor relations, alongside the Global Payments & Liquidity and Merchant Services businesses.
He was the only bank CFO in the July 2026 earnings window to name AI directly when discussing headcount decline , a disjunction rather than a causal claim: it is satisfied by AI making existing work faster without AI having displaced anyone. That makes his language on AI attribution one to watch as the reversal debate continues.
Who is Mike Santomassimo?
What did Mike Santomassimo say about AI and Wells Fargo job cuts?
When did Mike Santomassimo become Wells Fargo's CFO?
