the CEO of Wells Fargo

FT columnist Gary Silverman has written a surprisingly positive profile of John Stumpf, CEO of Wells Fargo, a huge bank that is embroiled in a huge scandal. Mr Stumpf, writes Mr Silverman, “still has friends on Wall Street”.

Mr Stumpf was … a country boy who grew up as one of 11 children on a Minnesota farm where he shared a bed with two of his brothers.

“I never got to sleep alone until I got married,” he likes to say. ….

[H]e was the rare big banker who emerged from the turmoil of the past decade with his public image relatively intact.

Last week, however, Mr Stumpf’s long run of good fortune came to an end. ….

Mr Stumpf, who is due to retire when he turns 65 in two years, said this week he has no plans to step down because of the scandal. But the pressure on him to go could very well increase.

Gary Silverman, “John Stumpf, the labrador of Main Street“, Financial Times, 16 September 2016 (metered paywall).


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