https://www.americanbanker.com/news/wells-fargos-head-of-regulatory-relations-is-stepping-down
9 replies (most recent on top)
Maybe Schart is expecting Mayor Fredo (Daley) to smooth things over? I’m gonna give an offer ya can’t refuse….
Could be good or bad news, do we even have enough information to know? Execs change jobs / employers all the time and not necessarily for reasons that indicate anything about where the company is headed. Sure, sometimes it's a warning sign, but not always.
I can imagine that this next regulatory examine is going to be brutal. Will probably set WF back at least 2 - 3 years. Could see a dramatic drop in WF stock. Expect more executive turnover in the next 6 months.
Asset cap stuff was mainly handled under SEO, not RR.
That whole RR team was a total clown show of unqualified people who spent a lot of time trying to keep information from regulators. They should disband it and fire a huge majority of those people for all the money they wasted. I know for a fact they paid an outside firm a bunch of cash and then ignored the findings.
@ zlh+1b3R2tGb it was on TW well over a week ago. Only thing “disgraceful” appears your ability use a computer.
This, in my mind, is huge news. It tells me WF is not making nearly the progress needed to lift the asset cap
@ile+1b3R2tGb or it could be she sees the sh!t storm coming and jumped ship. Lots of middle-managers and executive managers jumping ship in the last few months.
Disgraceful, story not even on TW.
She was in charge of supervision at the fed prior to role at Wells Fargo.
Me thinks she may have acted as a paid mole to the fed and hurt the banks attempt to lift cap.
This would interfere with chuks stonk options/payday....she had to go.
https://www.businesswire.com/news/home/20180130005336/en/Sarah-Dahlgren-Named-Wells-Fargo-Head-of-Regulatory-Relations
SD was was horrible! Completely incompetent. Kept around way too long. Good riddance.