Wells Fargo Names New Head Of Insurance Services

NU Online News Service, Aug. 26, 2:50 p.m. EDT

Laura L. Schupbach was named the new head of Wells Fargo Insurance Services to replace David Zuercher who is retiring at the end of this year.

A 16-year veteran of the company, Schupbach, now executive vice president and head of insurance, will oversee all of the San Francisco-based banks insurance operations of more than 200 offices in 37 states. She will be based in Denver.

Wells Fargo says its brokerage and agency model extends to all of its customer segments, providing solution for consumers, wealth clients, small businesses, middle market and corporate clients. She will also oversee Wells Fargo's multi-peril crop insurance division, Rural Community Insurance Services, Inc.

According to Highline Data, a member of Summit Business Media, which also owns National Underwriter, Rural Community is second behind ACE Ltd. with close to 15 percent of the multi-peril crop insurance market.

Schupbach has held various senior level positions throughout Wells Fargo, including head of enterprise expense management, and the head of finance for the wholesale banking group, the diversified products group (various consumer and small business businesses), and the western banking group.

The company also announced that Charlie Roberson, a 21-year veteran of Wells Fargo, will succeed Schupbach as the head of enterprise expense management reporting to Tim Sloan, chief financial officer.