Meet Jeffrey Schub, Wells Fargo's New Sustainability Leader
Wells Fargo, one of the largest financial institutions in the United States, has a new sustainability leader.
Eight months ago the financial giant’s first Chief Sustainability Officer, Robyn Luhning, announced that she was stepping down from her role after 12 years at the company and two years as CSO.
Now, Jeffrey Schub has taken the lead –not as the company’s second CSO, but as Head of Sustainability.
Meet Jeffrey Schub
“Thrilled to share that I’m stepping into a new role at Wells Fargo as Head of Sustainability” Jeffrey shared in a LinkedIn post.
Jeffrey joined Wells Fargo in 2022 as SVP Sustainable Finance Integration Leader before being promoted to Interim Co-Head of Enterprise Sustainability at around the time Robyn departed.
“In this position, I’ll be leading our enterprise Sustainability team, with responsibility for the bank's sustainability strategy in support of our business objectives. I’ll also be directing initiatives across the company to support our employees, customers, and communities as they pursue their sustainability goals,” he continues.
Prior to joining Wells Fargo, Jeffrey was Executive Director of the Coalition for Green Capital. He has an MBA from Yale School of Management where he studied strategy, energy markets and renewable energy finance, economics and policy.
“Our work is evolving quickly, with new challenges, solutions, and innovations emerging every day. I’ve seen firsthand the incredible talent and expertise Wells Fargo has in sustainability to take advantage of these opportunities. I’m excited to work closely with colleagues across our lines of business, our Foundation, and our operations. Our team is ready to support their efforts and deliver positive outcomes for the bank, our customers, and the communities we serve.
“I look forward to building on the great work of my predecessor, Robyn Luhning, and I'm grateful for the opportunity to lead a dedicated team of passionate experts.”
Sustainability at Wells Fargo
Wells Fargo & Company is an American multinational financial services company operating in 35 countries, serving more than 70 million customers worldwide and dating back to 1852.
Wells Fargo's climate action strategy focuses on four key areas:
- Scaling clean energy
- Increasing sustainability in communities
- Advancing climate finance and innovation
- Supporting an equity-focused transition
The company has committed to deploying US$500bn in sustainable financing by 2030 to support the transition to a low-carbon economy and as part of the company’s broader strategy to achieve net zero greenhouse gas emissions across all scopes by 2050, including financed emissions.
The bank was, however, among the major US banks that have exited the Net Zero Banking Alliance over the past few months.
Alongside the removal of the Chief Sustainability Officer role, this could signal a shift in prioritisation at the firm.
What is next for Robyn Luhning?
“After 12 years at Wells Fargo, I've decided to step away and forge a new path forward,” Robyn said on LinkedIn.
“To say I've learned and grown in my time at the company would be an understatement. In 2011, I joined in the company's first full-time role focused on environmental and social risk management. From 2018 to 2021, I pivoted and served as the Head of Strategy & Transformation, supporting work across Public Affairs during a critical time in the bank's transformation - not to mention a global pandemic.
“As Wells Fargo's first Chief Sustainability Officer, I am incredibly proud of the progress we've made supporting our customers' and communities' transition to a resilient, equitable and sustainable future. I have no doubt that our team is the best in the industry and well-positioned to continue to make an impact.
“I've been lucky to trailblaze, collaborate and innovate with so many brilliant, kind and fun people - too many to tag here! My heartfelt thanks to each one of you. I will miss you.
“As to what my professional life holds next? Opportunities abound! I'm looking forward to new challenges and a new path forward.”
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