Wells Fargo & Company, a financial holding company, has announced that senior executive vice president and head of its home and consumer finance group, Mark Oman plans to retire by the end of 2009.

Mr Oman’s group of businesses – Wells Fargo home mortgage, Wells Fargo financial, and card services and consumer lending – will remain in its current form, continue as a group to report to Mr Oman, and continue to be headquartered in Des Moines, US.

Mr Oman joined Norwest Financial, the consumer finance subsidiary of the former Norwest now Wells Fargo & Company, in 1979 in financial reporting, then as manager of treasury and audit services.

Dick Kovacevich, chairman of Wells Fargo, said: Thanks to Mark’s outstanding leadership through three decades with our company, the mortgage loan – with checking, investments and insurance – became one of our company’s four core products and part of the foundation of our company’s vision – to satisfy all our customers’ financial needs and help them succeed financially.