Wells Fargo has embarked on a search for a new CEO, focusing only on external candidates.
The bank reported disappointing guidance in its first quarter results, heightening need to replace Sloan.
Markets Insider has compiled a list of the top women in the financial industry who are qualified for the job.
Watch Wells Fargo trade live.
The race to succeed former CEO Tim Sloan at Wells Fargo has taken on new urgency after the company provided sharply lower guidance on Friday. In contrast to rival JPMorgan, Wells indicated its net interest margin would be down for 2019. The stock fell almost 3% on the news.
Sloan retired last month after facing a charged Congressional hearing which highlighted the bank’s various scandals and customer abuses. Board member Allen Parker has taken the position as interim CEO as the search kicks off. While the next CEO will face a raft of challenges, the board is acutely focused on finding the best man — or woman — for the job.
According to a statement from the Wells Fargo board of directors, only external candidates will be considered. The opportunity is a rare chance for an outsider to join as head of …read more
Source:: Businessinsider – Finance