OMS HG Briefing – Wells Fargo solution requires new blood in the system

OMS’s fortnightly Human Governance Briefing yesterday (12 October) questioned Tim Sloan’s appointment as John Stumpf’s replacement at Wells Fargo (see extract below) ; viewing his position as being part of the Wells Fargo problem. In the FT today Maxine Waters, a Democratic ranking member of the House of Representatives’ financial services committee was reported saying –  “Tim Sloan is also culpable in the recent scandal, serving in a central role in the chain of command that ought to have stopped this misconduct from happening,”

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The Banking Scandal Chronicles: Wells Fargo, RBS and Deutsche Bank

 

Another week, another slew of banks in the news for the wrong reasons. Wells Fargo has apparently identified the 29-year veteran of the bank, Tim Sloan, as the likely next CEO. We would ask whether the current President and COO is really a credible and qualified candidate to fix Wells’ endemic human governance problem: one that he surely presided over as part of the senior leadership team? ….

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