You are here: Home / Archives for bank

Wells Fargo CEO says bank changing handling of whistleblower complaints

November 10, 2016 By

Wells Fargo & Co Chief Executive Officer Tim Sloan told workers on Thursday the bank was changing the handling of whistleblower complaints after allegations it retaliated against employees who called an ethics hotline to report sales abuses. Sloan announced the change to a gathering of about 2,000 employees in Des Moines, Iowa, as part of a “conversations tour” he and other executives are making to try to restore employee morale following the bank's recent sales practices scandal. Sloan, who took over as CEO of San Francisco-based Wells Fargo last month, did not detail how whistleblower complaints will now be handled, but said the bank was also reviewing allegations of retaliation against staff.

Read the original post: 
Wells Fargo CEO says bank changing handling of whistleblower complaints

Filed Under: Latest News Tagged With: , , , , , , , , , , ,

Wells Fargo’s new CEO faces immediate test

October 13, 2016 By

Tim Sloan will not have much time to prepare his pitch for Wall Street. The newly installed chief executive of Wells Fargo & Co will present third-quarter results on Friday, less than 48 hours after replacing John Stumpf at the helm of the bank. Sloan's nearly 30 years with Wells, largely spent on the corporate and institutional side of the bank, and his moderate temperament make him a safe pair of hands.

Read more here:
Wells Fargo’s new CEO faces immediate test

Filed Under: Latest News Tagged With: , , , , , , , , , , , , , ,

Wells Fargo chief Stumpf heads to Hill with pressure mounting

September 29, 2016 By

Wells Fargo & Co's Chief Executive John Stumpf returns to Capitol Hill on Thursday with his job still under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street. The bank's move earlier this week to claw back $41 million in stock awarded to Stumpf, an unprecedented rebuke for a major U.S. bank CEO, is unlikely to silence calls for him to resign over revelations Wells Fargo's branch staff opened as many as two million unauthorized credit card and deposit accounts to meet sales quotas. California, Wells Fargo's home state, suspended business relationships with the bank for a year on Wednesday and said it would work with the state's two giant public pension funds to change the management structure at the bank, including separating the roles of CEO and chairman.

Originally posted here:
Wells Fargo chief Stumpf heads to Hill with pressure mounting

Filed Under: Latest News Tagged With: , , , , , , , , , , , , ,