(Reuters) - Wells Fargo's co-CEO of corporate and investment banking (CIB), Jon Weiss, has informed the bank of his intention to retire and will step down from his position effective immediately, the company said on Thursday. Weiss, who has had a two-decade-long career at Wells Fargo, served in a number of roles. He will formally retire on June 1.

Financial services company Wells Fargo has announced the upcoming retirement of Jon Weiss, the co-CEO of corporate and investment banking (CIB). Weiss, who has been a part of the Wells Fargo team for nearly two decades,

Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.