Danny Ludeman is to retire as head of Wells Fargo Advisors and will
be succeeded in this role on January 1, 2014, by Mary Mack, who currently serves as head of
the Wells Fargo Advisors Financial Services Group.

Ludeman has served as executive vice president and head of
Wells Fargo Advisors since the Wachovia merger in 2008. He led Wachovia
Securities for nearly ten years prior, and held key leadership roles at Wheat
First Securities before First Union/Wachovia acquired that firm.  

As head of the Financial Services Group at Wells Fargo
Advisors, Mack - who has been at Wells Fargo for 28 years – oversees: investment
advisory products; strategic solutions; advice; lending and banking services; national
sales; financial advisor productivity and development; and financial advisor recruiting
and integration.

Mack joined predecessor firm First Union in 1984 and has
held numerous leadership positions for groups including Wealth Brokerage
Services, Investment Services Group and Wachovia Client Partnership. 

Wells Fargo Wealth, Brokerage and Retirement includes Wells
Fargo Advisors - the firm's independent brokerage subsidiary - Wells Fargo Private Bank, Abbot Downing and Wells Fargo
Retirement.