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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
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- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Wells Shuffles Some Top Banking Execs - In Anticipation of What...?
Wells Fargo announced that it’s shuffling a number of top executives even as the bank continues to grapple with the fallout from its sales-tactics scandal. The moves allow President and COO Timothy Sloan to cement the position of a number of his lieutenants, according to people familiar with the bank. Mr. Sloan is heir apparent to CEO John Stumpf.
Mr. Sloan so far has been shielded from most of the outrage directed at the bank over sales problems that led it last month to agree to a $185 million fine and enforcement action with regulators and a city official. Mr. Stumpf has borne the brunt of the ire: during 2 congressional hearings some legislators called on him to resign.
San Francisco-based Wells Fargo announced the management moves ahead of its Q3 earnings Friday. As part of these changes, it announced the creation of a new payments, digital and innovation group and named a number of top executives to its operating committee, the upper echelons of management.
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