Wells Fargo is adding to its technology team again.

The $1.9 trillion bank secured former chief information and experience officer of Truist, Ken Meyer. The C-level executive announced his departure from his CIO position at the Charlotte, N.C.-based bank on Monday.

“I’m happy to share that I’m starting a new position on Oct. 23 as the CIO of Enterprise Functions Technology at Wells Fargo! Appreciate the warm welcome and can’t wait to get started,” Meyer said on LinkedIn on Tuesday.

Truist has been implementing cost-cutting measures that have resulted in hits to its innovation units and staff numbers as the bank has faced higher-than-anticipated SunTrust and BB&T merger-related expenses evidenced by Chief Executive Bill Rogers during the bank’s July Q2 2023 earnings call.

Wells Fargo, however, continues to invest in technology and talent, and gaining Meyer is the bank’s latest tech-forward move.

“We’re thrilled to welcome Ken to Wells Fargo’s Technology leadership team as CIO for Enterprise Functions Technology, leading the group’s acceleration to deliver enterprise value to our employees and business partners,” Steve Hagerman, chief information officer of consumer technology at Wells Fargo, told Bank Automation News.

“Amidst Wells Fargo’s digital transformation, the work led by the EFT [Enterprise Functions Technology] is critical to our progress, Ken’s strong background in leading exceptional teams and driving innovation at a large organization like ours is well suited to the task at hand,” Hagerman added.

In the second quarter of 2023, the San Francisco-based bank increased its tech spend 19% year over year to $947 million.

In the third quarter, Wells Fargo’s technology investment continued. Last week, the bank rolled out new capabilities, including new language features for its virtual assistant, Fargo, and the addition of investing functions to the bank’s mobile app, according to two Wells Fargo releases.

Throughout the year the bank has been making changes to its technology leadership, including the following appointees:

• Tracy Kerrins, head of technology, stepped up from her role as head of consumer technology in April. She leads the bank’s information technology and security professionals globally and focuses on digital transformation strategy, according to the Wells Fargo website.
• Hagerman was appointed chief information officer of consumer technology in April, according to the Wells Fargo website. He previously served as the bank’s chief technology officer.
• Saul Van Beurden also moved up at Wells Fargo, taking over as chief executive of consumer and small business banking in April following the retirement of Mary Mack.