It has never been clearer that this company has no leadership. No true leadership, that is. Until changes are made at the very top, we will continue to drift rudderless.
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Scharf isn't a leader. He’s here to cut costs and get regulatory restrictions lifted. My guess is also to sell off as many business lines as possible to solvent well run banks and Fintechs as well.
The fundamental problem with Wells is that it is too big to fail, but too corrupt, inefficient and technologically obsolete to survive. Wells cannot survive, so this is an effort to turn a train wreck into a more manageable slow motion train wreck.
Wells is a huge problem to the entire banking system and it will be solved.
just stay here and not worry, keep you head down and do the work; prepare yourself with multiple sources of income
Scharf doesn't care. He has been hired to dismantle this company and sell it off piece by piece.
After all this time, there is still not a coherent plan communicated and he still seems like a deer caught in headlights when asked a direct question. Sounds familiar. The lack of leadership is a recurring theme a lot of places right now but these people are considered to be successful by high society.