Wells looks for outsider as next CEO as Sloan quits

By Jasper Cox
29 Mar 2019

Tim Sloan, CEO and president of Wells Fargo, has announced his retirement, after several years of regulatory and legal pressure on the bank as a result of mis-selling revelations. Sloan was a Wells veteran; the US bank will now not choose one its own staff as his permanent replacement.

Sloan will step down on June 30, but Allen Parker, Wells’s general counsel, replaces him on an interim basis straight away, the Californian bank announced on Thursday.

“It has become apparent to me that our ability to successfully move Wells Fargo forward from here will benefit from ...

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