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The Man Who May Inherit the Mess at Wells Fargo | Tony Seruga
Sep
25

The Man Who May Inherit the Mess at Wells Fargo

By
  • President and COO Tim Sloan is longtime Wells Fargo employee
  • Not someone viewed as a ‘transformational CEO,’ analyst says

As the scandal over Wells Fargo & Co.’s bogus consumer accounts was coming to a head this summer, executives concluded they had to act. It was time for a chat with Carrie Tolstedt, the manager who oversaw the retail business.

The man assigned to do the messy task: Tim Sloan, the bank’s 56-year-old president, chief operating officer and trusted No. 2 to Chief Executive Officer John Stumpf. As Stumpf recounted for Congress this week, Sloan told Tolstedt that the bank would “go in a different direction.” She was soon replaced…

The Man Who May Inherit the Mess at Wells Fargo

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