Wells Fargo has appointed Bridget Engle as the new head of technology, taking over from Tracy Kerrins, who will now lead a newly formed Generative AI team. Engle, a veteran with over 30 years of experience in financial technology, previously served as CIO at BNY and has held various roles at Bank of America. CEO Charlie Scharf emphasized the importance of these changes as the bank seeks to modernize its technology and drive AI adoption to enhance customer experiences. The establishment of the Generative AI team aligns with the bank's ongoing efforts to innovate and improve operational efficiency despite facing regulatory challenges. These strategic moves come as Wells Fargo aims to remain competitive in an industry increasingly focused on digital transformation and AI integration. The bank continues to operate under a $1.95 trillion asset cap due to past legal issues, which underscores the urgency of these modernization efforts.