Leading Wells Fargo should be one of the most coveted position in the banking world. The bank, the fourth-largest in the country, reported a profit of more than $20 billion last year and has more than 70 million customers. But it will be a tough position to fill.
Wells Fargo chief executive Tim Sloan at a House Financial Services Committee hearing earlier this month. Sloan stepped down Thursday. By Renae Merle Renae Merle Reporter covering white-collar crime and Wall Street Email Bio Follow March 29 at 5:53 PM For months, the bad headlines ricocheted through Wells Fargo.
Wells Fargo’s largest shareholder, Warren Buffet of Berkshire Hathaway, told CNBC hours before the announcement he had “100 percent” confidence in Sloan. The bank’s critics in Congress say they will continue scrutiny of its actions. “I will … ensure that the bank is held fully accountable for its wrongdoing, including by continuing to press regulators to utilize all the enforcement tools at their disposal," Rep. Maxine Waters , chair of the House Financial Services Committee, said in a statement.
“The problem is that they need to stay out of the news and they haven’t been able to do it,” said Isaac Boltansky, a Washington policy analyst for the investment firm Compass Point Research & Trading.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wells Fargo CEO Sloan steps down after rocky tenureNEW YORK (AP) — Wells Fargo Chief Executive Tim Sloan is stepping down, effective immediately, after less than four years on the job during which the troubled bank dealt with a seemingly unending...
Read more »
Wells Fargo CEO Tim Sloan is retiring, and shares jumpSloan had been made CEO to clean up the bank's fake accounts scandal. But in the end, Wells Fargo's problems overwhelmed him.
Read more »
Wells Fargo CEO Tim Sloan retiring, shares jump
Read more »
Wells Fargo CEO Tim Sloan steps down suddenlyJUST IN: Wells Fargo has announced the sudden retirement of CEO Tim Sloan as the bank struggles to overcome a litany of scandals
Read more »
Former Goldman exec Harvey Schwartz is not interested in Wells Fargo CEO jobContrary to reports, the former president and co-chief operating officer at Goldman has not interviewed for the Wells position.
Read more »
Here's who could replace Tim Sloan as CEO of Wells FargoHelp wanted: New CEO for Wells Fargo. Must be good with regulators, politicians, media. Tech experience a plus. Must be willing to relocate to West Coast.
Read more »
Wells Fargo CEO Timothy Sloan Will Step DownWells Fargo said CEO Timothy Sloan will step down immediately and retire from the company June 30; the bank's general counsel will be interim CEO
Read more »
Wells Fargo CEO Tim Sloan to step down immediatelyTim Sloan, a 31-year veteran of the company, has spent years apologizing for the bank’s bad behavior and attempting to rebuild its reputation with customers, regulators and lawmakers. That was not enough for the bank's critics.
Read more »
Wells Fargo CEO Out, Stock RisesThe CEO of Wells Fargo is stepping aside as a massive phony account scandal continues to plague the bank
Read more »
Wells Fargo CEO Tim Sloan steps downWells Fargo & Co said on Thursday Tim Sloan will resign immediately as its chief...
Read more »