NY (Reuters) – Wells Fargo & Co’s board has retained executive search company Spencer Stuart to look for a unique leader, preferably a lady who is able to tackle its regulatory and general public perception dilemmas, two different people knowledgeable about the situation stated.
Wells Fargo’s ambition to be the actual only real major U.S. bank with a lady CEO underscores the requirement to restore a wide range to its image of constituents, including clients, investors, regulators and politicians, after it became mired in a scandal in 2016 for starting possibly an incredible number of unauthorized records.
Previous CEO Tim Sloan left suddenly final thirty days, becoming the next CEO to keep the financial institution within the scandal’s fallout.
The board intends to approach Citigroup Inc’s Latin America Jane that is chief Fraser one of many sources stated. During Fraser’s 15-year tenure at Citigroup, she’s got gained experience operating customer and commercial organizations in addition to its private bank.