Scott Powell, the former Santander US and Santander Consumer USA CEO, has joined Wells Fargo as chief operating officer. Powell will start at Wells Fargo on Dec. 9 and report directly to CEO and President Charlie Scharf.

Scharf said in a statement that he has known Powell for many years and that his experience, track record and integrity would “make him a great addition to our management team.”

“He’s the ideal person to take on this new position as we seek to transform Wells Fargo so that high-quality execution, clear accountability and operational excellence become unquestioned components of our culture,” Scharf said in the statement. “These elements are critical for us as we tackle our most important priority, regulatory remediation, and also create the foundation from which to build Wells Fargo and to best serve our customers.”

Powell will oversee regulatory execution and relations, enterprise shared services and operational functions at Wells Fargo.

Powell joined Santander US CEO in March 2015 and Santander Consumer USA CEO in August 2017. He previously held senior roles at JPMorgan Chase, including head of consumer banking, lending operations and consumer risk management. He also was CEO of consumer lending at Bank One and worked at Citi for 14 years.

“I am truly excited about the opportunity to join Wells Fargo and take on this new role during a critical period in Wells Fargo’s history,” Powell said in a statement. “Like Charlie, I have long admired and respected Wells Fargo. The company plays an important role in the U.S. economy, and we must ensure we are operating seamlessly and with the utmost integrity. I recognize that expectations are high and that we have significant work ahead of us. By working together and holding each other accountable, I’m confident that we will meet those expectations.”

Taking over for Powell as Santander US CEO and Country Head is Timothy Wennes, who will retain his current role as CEO of Santander Bank, N.A. Wennes, who was also named to the Santander US board of directors, will be responsible for the U.S. operations of Banco Santander, executing long-range plans and growth strategies and completing the company’s regulatory remediation. Wennes was at MUFG Union Bank before joining Santander in September 2019.