WF is getting adverse selection by having high level positions in SF/Bay Area. Banking just isn't s-xy in Bay Area and we get a bad pull from the distribution. There are a lot of really weak and deadwood types in WF and they need to go. Moving them out of SF would help.
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Charlotte and Minn a lot is dead wood in those areas. I would pull the bank out of both along with California and Iowa . Who is picking these places needs to be evaluated .
WF is the last banking giant in SF most other banks and financial services firms have moved their headquarters outside of CA.
Didn’t the head of Marketing recently “hire” a transformation person? Where is he?
That’s probably her replacement, outright firing a SR. Leader that is female is bad optics, so wherever he is probably tells you what you need to know.
Again with the marketing team.
If Chainsaw is smart he’ll move marketing to New York. NY is a marketing Mecca. It’s where people who are serious about careers in marketing and advertising migrate. He might not save money but at least he’ll get what he pays for.
The marketing positions have been migrating towards San Francisco, where CMO (JM) and most of her folks are, for the last few years. They could certainly save money if they left the jobs in Charlotte or Minneapolis, but that doesn’t seem to be the plan. At least it wasn’t.