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Home / Industry News / Devika Mathrani, Chief Marketing Officer, Consumer Bank at Wells Fargo

Devika Mathrani, Chief Marketing Officer, Consumer Bank at Wells Fargo

December 21, 2020 By John E Lincoln

Devika Mathrani, Chief Marketing Officer for, Consumer Bank, at Wells Fargo

In this edition of Marketer of the Week, Ignite Visibility spotlights Devika Mathrani, Chief Marketing Officer for the Consumer Bank division at Wells Fargo.

A Long History in Finance

Wells Fargo is far from Mathrani’s first venture into finance. She’s worked in the industry since at least 2004.

Back then, she served as Director, Statement Marketing at American Express. She went on to serve as Director, U.S. Consumer Charge Card Internal Acquisition for a year.

In 2007, she left American Express to work for Citi as a Managing Director, Chief Marketing Officer U.S. Cards, and Head of Global Digital Marketing Consumer Bank.

Yeah, that’s quite a resume already, right?

During her stint at Citi, she managed a team of about 200 employees and about 100 partners to handle marketing for Citi cards. She also delivered 5 million new customers and about 5 billion in incremental revenue annually.

Additionally, Mathrani improved Citi’s customer acquisition strategy. That move resulted in a 30% improvement in cost per acquisition and a 125% increase in digital and mobile acquisitions.

And she also updated Citi’s digital strategy in all 20 global markets. 

Mathrani joined Wells Fargo in 2018 as Executive Vice President and CMO for Payments, Virtual Solutions, and Innovation. Her efforts in that role led to an increased deposit balance from 1% to 6.5% in a single year.

In fact, she handled that role so well that the company promoted her to CMO for the Consumer Bank division in 2019. 

Now, Mathrani manages about 250 employees and 200 partners who help her improve the marketing strategy for Wells Fargo Consumer Bank. That effort, by the way, has a budget of more than $1 billion.

Wrapping It Up

There’s no doubt that Wells Fargo struggled a bit this year. But almost every company struggled this year.

Still, the company shows promise with Devika Mathrani heading up marketing. If anybody can help the company navigate through these turbulent times, she can.

About John E Lincoln

John Lincoln (MBA) is CEO of Ignite Visibility (a 2017, 2018, 2019 and 2020 Inc. 5000 company) a highly sought-after digital marketing strategist, industry speaker and author of two books, "The Forecaster Method" and "Digital Influencer." Over the course of his career, Lincoln has worked with over 1,000 online businesses ranging from small startups to amazing clients such as Office Depot, Tony Robbins, Morgan Stanley, Fox, USA Today, COX and The Knot World Wide. John Lincoln is the editor of the Ignite Visibility blog. While he is a contributor, he does not write all of the articles and in many cases he is supported to ensure timely content.

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About The Editor

John E Lincoln, CEO

John Lincoln is CEO of Ignite Visibility, one of the top digital marketing agencies in the nation and a 6x Inc. 5,000 company. Lincoln is consistently named one of the top marketing experts in the industry. He has been recipient of the Search Engine Land "Search Marketer of the Year" award, named the #1 SEO consultant in the USA by Clutch.co, most admired CEO and 40 under 40. Lincoln has written two books (The Forecaster Method and Digital Influencer) and made two movies (SEO: The Movie and Social Media Marketing: The Movie) on digital marketing. He is a digital marketing strategy adviser to some of the biggest names in business. John Lincoln is the editor of the Ignite Visibility blog. While he is a major contributor, he does not write all of the articles.

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