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 executive search company Spencer Stuart to look for a unique leader, preferably a lady who are able to tackle its regulatory and general public perception problems, two different people knowledgeable about the problem stated.

Wells Fargo’s ambition to be truly the only 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 scores of unauthorized records.

Previous CEO Tim Sloan left month that is abruptly last 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 among the sources stated. During Fraser’s 15-year tenure at Citigroup, she’s got gained experience running customer and commercial organizations in addition to its personal bank.

Fraser could never be instantly reached for remark.

The board additionally discussed approaching JPMorgan Chase & Co’s Marianne Lake, but following the bank called her to run JPMorgan’s customer lending company the other day, that option became less viable, the origin included. The board wishes an individual who can persuade regulators, workers, investors and clients that the lender has fixed dilemmas underpinning the product sales scandal, the sources stated. Continue reading Exclusive: Wells Fargo taps headhunter Spencer Stuart to locate CEO that is new