Jon Weiss, the co-chief executive officer of Wells Fargo (NYSE:WFC) & Co.'s corporate and investment bank will retire after nearly two decades with the company, according to an announcement on Thursday.

Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.

Financial services company Wells Fargo has announced the upcoming retirement of Jon Weiss, the co-CEO of corporate and investment banking (CIB). Weiss, who has been a part of the Wells Fargo team for nearly two decades,