Kimberly Fritts
Kimberly Fritts

Wells Fargo has signed on Cogent Strategies, the firm launched by former Podesta Group CEO Kimberly Fritts, for additional Washington coverage.

It wants Cogent to handle a broad range of policy issues impacting the banking sector.

Managing directors David Oxner, former head of government relations at the Securities Industry & Financial Markets Assn., and Randall Gerard, ex-Podesta principal and staffer on the Senate Commerce, Science and Transportation Committee, handle the effort.

As part of its turnaround plan, Wells Fargo announced June 28 that Derek Flowers, a 21-year veteran of the company, will head its newly created strategic execution & operation office that is supposed to enable the bank to deal with its regulatory priorities and drive its transformation.

Flowers reports to interim CEO Allen Parker, who replaced Timothy J. Sloan in March after he was the subject of a blistering attack by Massachusetts Senator and presidential hopeful Elizabeth Warren.

Sloan was the second CEO to exit since the 2016 bombshell that Wells Fargo staffers opened up millions of fake customer accounts.

Wells Fargo spent $4.3M for DC lobbying during the past year at a roster of shops that includes Ogilvy Government Relations, Resolution Public Affairs and Federal Street Strategies.