Wells Fargo Names New CEO
October 1, 2019 by Janet Levaux
Six months after its then-CEO Tim Sloan resigned in the face of criticism from lawmakers and others, Wells Fargo has named Bank of New York Mellon Chairman and CEO Charles Scharf as its new chief executive officer and president.
Allen Parker, the bank’s interim CEO, will lead the bank through the shift in leadership, set for Oct. 21. He will then return to his prior role as general counsel.
“Charlie is a proven leader and an experienced CEO who has excelled at strategic leadership and execution and is well-positioned to lead Wells Fargo’s continued transformation,” said Wells Fargo Board Chair Betsy Duke in a statement.