How does a big bank develop new ideas? Steve Ellis explains more about innovation at Wells Fargo, and why large corporations are looking to partner with young start-ups to discover the next industry breakthrough.

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Steve Ellis is an executive vice president and head of the Wells Fargo Innovation Group, an enterprise-wide organization devoted to accelerating the company’s delivery of next-generation, customer-inspired technologies, products, and services. Prior to this assignment, Steve was head of the Wholesale Services Group, which included Treasury Management, Wholesale Banking Technology and Operations, Wholesale Social Strategies, Innovation and Research and Development, Wholesale Marketing, and the Enterprise Payment Strategies Group.

A 28-year company veteran, Steve’s previous responsibilities included starting up and running the Wholesale Internet Solutions group, which launched Wells Fargo’s award-winning Commercial Electronic Office® (CEO®) portal in 2000 and CEO Mobile® in 2007. The fast pace of Wells Fargo’s early move into online and mobile financial services was due in large part to his commitment to fostering workplace creativity. Prior to starting up Wholesale Internet Solutions, Steve held senior finance and operations roles in Wells Fargo Commercial Banking, Real Estate Group, and Wholesale Banking.

He has a B.S. in economics from Pennsylvania State University and an M.B.A. from the University of Oregon. Steve served as chairman of the board for NACHA, The Electronic Payments Association, from 2005 to 2008 and was vice chairman from 2009 to 2010. He is currently a board member of First Graduate, a nonprofit focused on helping young adults become the first members of their families to graduate from college.