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,”
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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