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Features/Scandals

Wells Fargo Fires 4 Retail Execs Over Accounts Scandal

February 21, 2017

Wells Fargo fired its consumer credit solutions head and 3 other senior managers for actions related to a scandal involving employees creating fraudulent customer accounts:

 

  • Claudia Russ Anderson, former community bank chief risk officer;
  • Pamela Conboy, regional president for Arizona;
  • Shelley Freeman, former L.A. regional president and now head of consumer credit solutions; and,
  • Matthew Raphaelson, head of community bank strategy and initiatives

 

None will receive a bonus for 2016 and will forfeit all of their unvested equity awards and vested outstanding options.