C-suite

Steve Streit is retiring as part of a shakeup in the firm's management ranks. The Pasadena, Calif.-based company that he founded in 1999 has been suffering amid new competition from challenger banks.

Muneera Carr, who will become the San Francisco bank's controller on Jan. 6, is the newest addition to a team being assembled by CEO Charlie Scharf.

Scott Powell, who resolved numerous regulatory problems as the head of the Spanish bank's U.S. operations, will face similar challenges at scandal-plagued Wells. As the bank's chief operating officer, Powell will report to CEO Charles Scharf, a former colleague at JPMorgan Chase.

Ralph Babb had stepped down as CEO in April. Curtis Farmer, who succeeded him as chief executive, will assume the chairman's title starting next year.

Big succession moves dominated the industry headlines in the past few weeks, as women claimed key chief leadership titles.