Schwartz lost out on the position of CEO of Goldman Sachs a year ago in a heated race which saw him lose out to now CEO David Solomon.
Former Goldman Sachs executive Harvey Schwartz is said to turn down opportunity to take on Wells Fargo CEO role.Schwartz missed out on replacing Lloyd Blankfein as Goldman CEO to David Solomon a year ago.
Wells Fargo, the third largest bank in the US, has been no stranger to controversy of late with its current CEO Tim Sloan testifying before the House Financial Services Committee on Capitol Hill two weeks ago. Last December, the bank agreed to pay a $575 million fine as a direct consequence of claims that some of its accounts were false. Similarly, Wells Fargo agreed to pay nearly $2.1 billion last year after claims of misbehaviour in its auto and mortgage business,Despite sticking with Sloan through the recent crises the California-based bank appears to be on the lookout for a new chief executive.
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