Wells Fargo CEO Shares Updates on Rebuilding Trust in Message

Wells Fargo CEO Tim Sloan sent a companywide message regarding the bank’s second quarter 10-Q filing and the bank’s effort to regain the public’s trust.

Stumpf Retires, Sloan Named Wells Fargo CEO

Wells Fargo Chairman and CEO John Stumpf will retire, effective immediately. Tim Sloan, company president and chief operating officer, will succeed him as CEO.

Wells Fargo Completes North American GE Capital Acquisition

Wells Fargo completed the purchase of GE Capital’s Commercial Distribution Finance and Vendor Finance businesses as well as a portion of its Corporate Finance business, totaling $27.4 billion of assets.

Sloan Named Wells Fargo’s President and COO

Wells Fargo’s board of directors has named 28-year company veteran Timothy J. Sloan to be president and chief operating officer, reporting to chairman and CEO John G. Stumpf, effective immediately.