Wells Fargo Wealth, Brokerage and Retirement has launched the Wells Fargo Investment Institute, which is led by the unit's new CIO Darrell Cronk and provides economic and market research.

Wells Fargo Wealth, Brokerage and Retirement has launched the Wells Fargo Investment Institute, which is led by the unit's new CIO Darrell Cronk and provides economic and market research.

The WFII will initially be comprised of the manager research, alternative investments and national investment strategy teams that were previously part of Abbot Downing, Institutional Retirement and Trust, Wells Fargo Advisors and Wells Fargo Private Bank, the firm said. Family Wealth Report is seeking more information.

Cronk succeeds Dean Junkans – who is retiring at the end of the year - as CIO of Wells Fargo Wealth, Brokerage and Retirement. Prior to this, he was deputy CIO of Wells Fargo Private Bank. He has held a number of investment leadership roles at the private bank including as regional CIO, senior director of investments, regional investment manager, portfolio manager and financial advisors.

Wells Fargo Wealth, Brokerage, and Retirement is one of the largest wealth managers in the US, with $1.6 trillion in client assets. WBR includes Wells Fargo Private Bank, serving high net worth individuals and families; Wells Fargo Advisors, the third-largest brokerage firm in the US; Wells Fargo Retirement, which manages $314 billion in employer-sponsored retirement plan assets for 3.7 million Americans; and Abbot Downing, which serves ultra high net worth clients.