Wells Fargo & Co. CEO Charles Scharf is making moves as he tries to rid the San Francisco-based bank of ongoing problems since its fake-accounts scandal emerged in 2016.
Scharf is splitting the bank’s organizational structure into five parts: Consumer and Small Business Banking, Commercial Banking, Corporate and Investment Banking, Wealth and Investment Management and Consumer Lending. Each line of business will be overseen by a CEO, who will report directly to Scharf.
“These changes create the right structure to build our businesses over the long term and increase our ability to successfully execute on our top priority, which is the risk, regulatory and control work,” Scharf said.
Read more here.
:quality(70)/d1hfln2sfez66z.cloudfront.net/11-08-2019/t_c1d318616d4b4bd68e154f69750def8b_name_2A6A9D1AA76C46B38A98313FD33D5408.jpg)
Read more top trending stories on wsoctv.com:
- FBI joins search for 6-year-old girl who vanished from SC neighborhood
- Remains found believed to be North Carolina woman who was ‘dumpster diving’
- Taco shops close as restaurant group files for bankruptcy
- FORECAST: Rain chances continue, cooler temps Wednesday
- Woman pleads guilty, sentenced for giving vodka to teen who died of alcohol poisoning
© 2020 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/LH3JSJEF3VBLRJLJQESEAG34AM.png)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/U3EY7ZFBSVFTXLGH7UFZM2DMVA.png)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/CUIJJ3YA7FDYFJIC27PC364K2A.png)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/V2LHQ3SVK5DWNA7NL7MLKJ5MQ4.jpeg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/OALVBR6QTFWNDCGBQCCIM2QLJQ.jpg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/IECLZ25KHBB2RL4UE2PRALJAZA.jpeg)