Well Fargo Q1/19 C&I Interest Income Up 23 Percent

Wells Fargo reported Q1/19 earnings of $5.9 billion was up from $5.1 billion a year earlier. C&I interest income was also up 23 percent compared to a year earlier while lease financing interest income and yields were down from Q1/18.

Wells Fargo CEO and President Sloan to Retire

Wells Fargo’s CEO and president Timothy J. Sloan will retire from the company, effective June 30, 2019, and will step down as CEO, president, and board member effective immediately.