Exclusive: Wells Fargo taps headhunter Spencer Stuart to get brand new CEO – sources
NYC (Reuters) – Wells Fargo & Co’s board has retained executive search company Spencer Stuart to look for a unique leader, preferably a lady who is able to tackle its regulatory and general public perception problems, a couple knowledgeable about the situation stated.
Wells Fargo’s aspiration in order to become the actual only real major U.S. bank with a lady CEO underscores the necessity to restore a wide range to its image of constituents, including clients, investors, regulators and politicians, after it became mired in a scandal in 2016 for starting possibly scores of unauthorized records.
Previous CEO Tim Sloan left month that is abruptly last becoming the 2nd CEO to keep the financial institution into the scandal’s fallout.
The board intends to approach Citigroup Inc’s Latin America Jane that is russian brides at hotbrides.net chief Fraser one of many sources stated. During Fraser’s 15-year tenure at Citigroup, she’s got gained experience operating customer and commercial organizations along with its personal bank.
Fraser could never be instantly reached for remark.
The board additionally talked about approaching JPMorgan Chase & Co’s Marianne Lake, but following the bank called her to run JPMorgan’s customer lending company the other day, that option became less viable, the origin included. The board wishes somebody who can persuade regulators, workers, investors and clients that the financial institution has fixed dilemmas underpinning the product product sales scandal, the sources stated.
The bank’s board feels that selecting a female might please lawmakers in Washington who have been critical not just of Wells Fargo’s misbehavior, but regarding the broader banking industry for too little gender and diversity equality, stated the sources, whom talked in the condition of privacy. Weiterlesen