MINNEAPOLIS — Wells Fargo Bank's top Southern California executive, John F. Grundhofer, today was named chairman, president and chief executive officer of First Bank System, a $20-billion Minneapolis lending institution beset with trouble in the last two years.
Darrell G. Knudson, who had been leading First Bank during the search for a replacement for D. H. Ankeny, will remain vice president and a director, the company said. Knudson had been a candidate for the top job.
