Exclusive: Wells Fargo taps headhunter Spencer Stuart to locate CEO that is new

Exclusive: Wells Fargo taps headhunter Spencer Stuart to locate CEO that is new

NY (Reuters) – Wells Fargo & Co’s board has retained search that is executive Spencer Stuart to look for a unique leader, ideally a female who is able to tackle its regulatory and general general public perception problems, a couple acquainted with the situation stated.

Wells Fargo’s aspiration in order to become truly the only major U.S. bank with a lady CEO underscores the requirement to restore its image with a number of of constituents, including clients, shareholders, regulators and politicians, after it became mired in a scandal in 2016 for opening possibly scores of unauthorized records.

Former CEO Tim Sloan left suddenly final thirty days, becoming the next CEO to keep the lender within the scandal’s fallout.

The board intends to approach Citigroup Inc’s Latin America Jane that is chief Fraser one of many sources said. During Fraser’s tenure that is 15-year Citigroup, she’s got gained experience running customer and commercial companies along with its personal bank.

Fraser could never be instantly reached for remark.

The board also talked about approaching JPMorgan Chase & Co’s Marianne Lake, but following the bank known as her to run JPMorgan’s customer lending company the other day, that option became less viable, the origin included. Continue reading “Exclusive: Wells Fargo taps headhunter Spencer Stuart to locate CEO that is new”