Wells Fargo has grown to be the 12th largest private employer and the 8th larget credit card issuer in the country. They took on Mike McCoy as President of Card Services in January 2009 and Mike has helped guided Wells Fargo through the tough economic climate.
While government regulations can be restricting to credit card issuers, Mike and Wells Fargo rely on creative thinking and strategy to lead them to innovation in the payments space. In the interview, Mike talks about how Wells Fargo is striving to understand their customer’s behavior and adapting to what he calls the ‘new normal’ to achieve financial success. Listen to the entire audio interview to hear how Mike plans to bring Wells Fargo to the forefront of the payments industry.
To read the transcript of this interview, click here
Executive Bio: As President for Wells Fargo Consumer Credit Card, Mike McCoy is responsible for the overall business and strategic direction of the division, and leads a team of more than 5,000 team members who manage approximately $20 billion in credit card balances, representing 8.5 million customers.
An eight-year veteran of Wells Fargo, McCoy was named executive vice president, Human Resources and Communications – including Leadership Development, Learning and Development, Compensation, Recruiting and Corporate Sponsorships – for the Home and Finance Group in 2007. For the prior 6.5 years, he was group senior vice president, Strategy and Business Development for Wells Fargo Financial where he led the Retail Sales Finance and Insurance Services businesses as well as Marketing for the Wells Fargo Financial enterprise.
In addition to his business line responsibilities, Mike was an executive sponsor of the Wells Fargo Financial Rotational Leadership program and an original participant in the Wells Fargo Financial Reverse Mentoring program. He was also a founding member of the Central Iowa Diversity Council.
Before joining Wells Fargo in January 2001, Mike led several national distribution organizations within Financial Services, including serving as general manager for ING’s Financial Institution Division and American Express where he was chief marketing officer and senior vice president for American Enterprise Life in Minneapolis, Minn.
He earned his bachelor’s degree in business management at Missouri State University and has completed executive education courses at Stanford, University of Southern California and at ING’s international business school in Amsterdam, The Netherlands.
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