9/27/2019, 1:10 PM (Source: TeleTrader)
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Wells Fargo names Charles Scharf to be new CEO

Wells Fargo & Co. said on Friday its board of directors named Charles W. Scharf to be its new chief executive officer and president, starting on October 21. The previous CEO of the banking giant, Tim Sloan, resigned on March 28.

Scharf also serves on the board of Microsoft Corp. and is a member of the Business Council.

"With more than 24 years in leadership roles in the banking and payments industries, including as CEO of Visa Inc. and Bank of New York Mellon, Charlie has demonstrated a strong track record in initiating and leading change, driving results, strengthening operational risk and compliance, and innovating amid a rapidly evolving digital landscape," said Wells Fargo Board Chair Betsy Duke.

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