{"id":31556,"date":"2020-07-21T20:51:00","date_gmt":"2020-07-21T17:51:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/wells-fargo-appoints-cfo-in-leadership-shakeup\/"},"modified":"2020-07-21T20:51:00","modified_gmt":"2020-07-21T17:51:00","slug":"wells-fargo-appoints-cfo-in-leadership-shakeup","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/wells-fargo-appoints-cfo-in-leadership-shakeup\/","title":{"rendered":"#Wells Fargo appoints CFO in leadership shakeup"},"content":{"rendered":"

“#Wells Fargo app<\/a>oints CFO in leadership shakeup<\/strong>”<\/p>\n

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July 21, 2020 |<\/span> 1:51pm |<\/span> Updated July 21, 2020 | 2:03pm<\/span><\/p>\n

\n Enlarge Image<\/p>\n

\"Wells<\/img>
\n Wells Fargo’s headquarters in San Francisco<\/span>
\n Getty Images<\/span><\/p><\/div>\n

\n Wells Fargo said Tuesday that Mike Santomassimo will replace John Shrewsberry as chief financial officer when he retires in the fall after more than two decades at the firm.<\/p>\n

Since taking over as chief executive in October, Charles Scharf has shaken up leadership at the bank and installed a slew of former colleagues and confidants in top positions. Santomassimo most recently served as Scharf\u2019s CFO at Bank of New York Mellon and previously led the finance teams for various business lines at JPMorgan Chase.<\/p>\n

Shrewsberry, who told Scharf he was considering retirement when he joined the company, will stay on to ensure a smooth transition, the company said. Shrewsberry was named CFO in 2014 after running Wells Fargo Securities and Wells Fargo\u2019s commercial capital division.<\/p>\n

When Santomassimo joins the company in the fall, the top three executives will be based in New York, away from the bank\u2019s official San Francisco headquarters.<\/p>\n

The change at Wells Fargo comes as it gears up to launch a broad cost-cutting initiative this year and continues to work through expensive regulatory and operational problems tied to a long-running sales scandal.<\/p>\n

On an earnings call last week, Scharf slammed prior management for failing to run the bank in an efficient and compliant manner, saying the firm\u2019s underperformance was \u201cbecause leadership didn\u2019t make the difficult decisions necessary.\u201d<\/p>\n

However, he struck a different tone on Tuesday talking about\u00a0 Shrewsberry, a 22-year Wells Fargo veteran.<\/p>\n

\u201cThroughout his tenure, John has served as an excellent financial and strategic leader for our company,\u201d Scharf said. \u201cHe is well-respected throughout the company and the financial community.\u201d\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Wells Fargo appoints CFO in leadership shakeup” July 21, 2020 | 1:51pm | Updated July 21, 2020 | 2:03pm Enlarge Image Wells Fargo’s headquarters in San Francisco Getty Images Wells Fargo said Tuesday that Mike Santomassimo will replace John Shrewsberry as chief financial officer when he retires in the fall after more than two decades…<\/p>\n","protected":false},"author":1,"featured_media":31557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[42013],"class_list":["post-31556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-wells-fargo-appoints-cfo-in-leadership-shakeup"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/31556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=31556"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/31556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/31557"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=31556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=31556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=31556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}