A new chief compliance officer has stepped into role at Wells Fargo Advisors.

Wells Fargo Advisors, the brokerage firm, has appointed Jim McHale as chief compliance officer, replacing Bob Mooney, who has become chief compliance officer of Wells Fargo's wealth, brokerage and retirement unit.

Based in St Louis, MO, McHale now reports to Mooney.

McHale, who will serve on the firm’s operating committee, was most recently global head of brokerage compliance at E*TRADE Financial Corporation and associate general counsel for the Securities Industry and Financial Markets Association.

McHale will be responsible for leading the compliance function of WFA’s retail brokerage business, including the oversight of product and regulatory compliance, internal controls, anti-money laundering, regulatory change management and other regulatory affairs.

With $1.4 trillion in client assets as of December 31, 2014, Wells Fargo Advisors provides investment advice through 15,187 full-service financial advisors and 3,852 licensed bankers.