Regulators were skeptical of Timothy J. Sloan’s ability to shift course, though analysts were inclined to give him the benefit of the doubt.
Howard I. Atkins, Wells Fargo's chief financial officer, abruptly retired on Tuesday, citing personal reasons. He will be replaced Timothy J. Sloan, the bank's current chief administrative officer.
Timothy J. Sloan, 53, is leaving the C.F.O. post to head Wells Fargo’s wholesale banking group, and John R. Shrewsberry, 48, currently head of Wells Fargo Securities,will become the new chief financial officer.
Not that the bank stocks were overheating or anything, but Wells Fargo analysts are now skeptical the sector can do much in a weak economy.
Scandal-plagued Wells Fargo & Co. opted to choose a longtime insider, Timothy Sloan, to replace John Stumpf after the embattled chief executive abruptly quit on Wednesday. But Sloan, who had been Well Fargo’s president, faces scruti...
While the Wells Fargo board emphasized that Mr. Sloan was "ready to lead the company into the future," the bank's critics focused on the role that Mr. Sloan -- who has spent the last 29 years at Wells Fargo -- played in the bank's t...