What do you think a post asset cap world looks like at Wells Fargo?
Do you think we will be better off than the other banks post asset cap because we are leaner and more efficient?
What is holding us back from lifting the asset cap? Is it just the RCSA program?
Often stated, but not true. There's LOTS of people in finance that would do any job you want them to do for $30M/year, especially when there's no where for the company to go but up.
If you're running a marathon against others and you're the only one carrying a 50-pound weight, you're going to be way behind no matter how lean you are or how slow the others are when the weight is lifted.
WF is no longer a competitor in the global banking market
I think the company would be better off with a post a$$hat cap in the CEO chair.
They need to get rid of that a-s hat.
It will be a smaller company when it is done.
The bank will wind up being broken up and sold off in business lines before the asset cap gets lifted.
@dnp+1i9mQnvq My guess is they gave him the raise because he demanded it. No one wants to run the place. Don’t give him what he wants, no matter how good or bad things are going, and good luck getting someone else in here.
The asset cap lifting will be a good thing, but the company will never be a top performer so long as blanket RTO is in place.
Won’t happen. Leadership is full of id--ts.
It'll take a very long time to be leaner than the other top 3. Wells is so far behind. Still need to catch up in Technology too. One thing is for sure though, a lot of risk and compliance folks will probably be laid off.
Good question OP, but I think there is no Post Asset Cap Wells Fargo, at least for as long as we have the current CEO and BOD running the show. They are all talk and no game.
Jerome says the asset cap will remain in place until we have “fixed multiple problems”. I don’t even hear execs talk about trying to get the cap lifted anymore.
Our Senior Execs keep getting paid handsomely no matter what they do or don’t do, so they aren’t even bothering to set targets or ETAs And our BOD gave Charlie a 20% raise because the stock’s up? No…. Oh it’s because he has improved the culture and inspired excellence? Wait a minute…. It’s probably because he he…I have no idea why they gave him a raise.
Post-asset cap Wells Fargo will become the top-rated bank in America. Millions of new customers will sign up for Wells Fargo products and services. The newly rebuilt institution will be the envy of all other banks from large to small as the public trust is restored to its glory days. Those holding Wells Fargo stock will rejoice as they reap huge windfalls from this miraculous come-back story…
And then you wake up.