Lack of new blood casts doubt over Wells Fargo's change plan

Lack of new blood casts doubt over Wells Fargo's change plan
 

Wells Fargo & Co's decision not to introduce new names onto its board or into the ranks of its senior management in the wake of a sales scandal has raised questions about whether it can truly fix the culture which caused its problems.
The United States' third-largest bank by assets has been plunged into crisis by revelations that its branch staff created as many as 2 million accounts without customers' knowledge in order to meet internal sales targets.
John Stumpf, the bank's chairman and chief executive, left last week in response to a public outcry and the bank put Tim Sloan, a... read more

 
17 October 2016 in Business, Views: 52
Source: Reuters
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