This appointment was announced on January 26, 2026, and will take effect on February 9. In this role, Shafiq will oversee “the vision, roadmap, and development for enterprise-wide, AI-powered products.” Shafiq joins Wells Fargo from Amazon Web Services, where he served as Field Chief Technology Officer for Generative and Agentic AI.
Shafiq brings over 20 years of experience across data, AI, and enterprise technology. At AWS, he was Worldwide Head of Product and GTM, driving $9 billion in direct revenue and influencing $24 billion in total revenue growth, equal to 30% of AWS’s expansion.
Before AWS, Shafiq built and scaled data and AI operations at Verizon, where he served as Chief Data and AI Officer, as well as at AT&T, Google, and Cambia Health Solutions, a $10 billion healthcare enterprise. His career reflects hands-on leadership in deploying AI across large and regulated organizations.
“Faraz’s deep expertise in generative and agentic AI and proven leadership in scaling enterprise platforms will accelerate the execution of our strategy of using AI to transform how we work and how we serve our customers, and ultimately propel the growth of the bank,” said Saul Van Beurden, Head of AI and Co-CEO of Consumer Banking and Lending.
The appointment follows key developments at Wells Fargo. In June 2025, the Federal Reserve lifted the bank’s asset cap imposed after the 2016 accounts scandal. This restored $30 billion in excess capital above regulatory minimums and reopened growth opportunities after 7 years. CEO Charlie Scharf has indicated that this capital will be directed toward AI-driven efficiency and new business initiatives.
Under Van Beurden, appointed in November 2025, the bank has trained more than 90,000 employees on AI, deployed AI tools to 180,000 desktops, and achieved 30%–35% gains in engineering productivity through AI-assisted coding.
Wells Fargo’s virtual assistant, Fargo, developed with Google Cloud, handled 245.4 million customer interactions in 2024. The bank is now deploying agentic AI to automate routine work, provide personalized financial guidance, deliver real-time insights, and streamline workflows.
Shafiq’s mandate is to move from proof-of-concept to large-scale deployment. He will identify business processes for generative and agentic AI, build the technology stack, lead cross-functional teams, and ensure measurable outcomes.
CEO Scharf also stated in December 2025 that workforce reductions are expected in 2026 as AI productivity rises. Shafiq’s role will therefore include workforce transition planning, reskilling, and organizational redesign.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
