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John Stumpf
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Latest Headlines
Blankfein owns largest stake in his own bank
How much skin do the top CEOS have in their games? For a lot of people, it's an important question, as many buy the notion that the more shares executives own the more aligned their interests are with shareholders.
I'm not sure where academic research falls on the issue, but it's fair to say t
Wells Fargo responds to new regulatory era
The main narrative from banks as the Dodd-Frank regulatory era gets underway is that revenues will take a hit. Brian Moynihan ( Brian Moynihan news), CEO of Bank of America, among others has been driving home that point to analysts. But the picture is clouded by the fact that we do not yet have
Wells Fargo's grants reflect new era
Now that Wells Fargo ( WFC ) has paid back its TARP funds, it has a little more leeway when it comes to executive bonuses. It has announced it will pay chief executive officer, John Stumpf and three others grants worth about $25 million collectively. But, in a nod to the times, it will pay all o
Can Wells Fargo pay back TARP funds soon?
Recall that Wells Fargo ( WFC ) CEO John Stumpf was an early critic of the TARP program, specifically the fact that top banks had no choice to accept funds or not. It was sort of assumed that Wells Fargo would likely be one of the earliest to pay back the taxpayer funds. But it hasn't turned out
Wells Fargo exec's squat in Malibu hurts bank
Cheronda Guyton, a senior vice president at Wells Fargo, was fired after she took over a fancy home she foreclosed on in Malibu for big parties. The owners were victims of Bernard Madoff. The LA Times ran a huge spread that embarrassed her of course, but more importantly it embarrassed the ban
Top execs head to Washington on commercial flights
Top banking executives are heading to Washington, D.C. for a hearing--one that will not likely be pleasant--and they're smart enough to leave the private jets in the hangar. Seeking to avoid yet another PR snafu, they are taking commercial flights, reports the Financial Times .
This isn't a
Wachovia's earnings: A shocking loss
Wachovia's last earnings announcement was a doozy. It reported a massive $24 billion loss . That's $2.23 a share loss versus expectations of a 2 cents a share loss. Ouch! Portfolio wonders if Vikram Pandit was sitting back chuckling. His counterpart at Wells Fargo, John Stumpf, put the righ
Wells Fargo stays on message point
One way to rebut rumors is for top executives to stay slavishly on point when they speak to the media. Wells Fargo seems to be doing just that. CEO John Stumpf repeated to the Financial Times that the big San Francisco bank, which has fared well during the credit crisis, is not interested in a
Wells Fargo on a roll?
On the institutional side, has anyone really sailed through the credit crunch? The conventional wisdom used to be that Goldman Sachs and JPMorgan Chase had, but that may be premature. Relatively speaking, of course, they've done better than their peers. On the consumer side, Wells Fargo seem a
