Wells Fargo has long been known for its low turnover rates, particularly in mid and mid-high management positions. However, the company's management style of "let's be nice" is undergoing a significant shift. The new management is shaking things up and bringing a fresh perspective to the company. As part of this transition, there is a slow but steady influx of ex-JPM and other cross-bank management hires replacing some of the existing management team.
This trend is expected to accelerate in the coming weeks, especially after the major banks report their earnings. The new hires will be evaluating the current management team's performance and looking to implement best practices in developing fintech, such as agile methodology. Although the current management team has not previously worked with agile methodology, they will need to adapt quickly to keep up with industry standards and the evolving landscape of the financial industry.
These changes may pose some challenges, but they also present an opportunity for growth and innovation. With a new management team at the helm and the adoption of new development methodologies, Wells Fargo is positioning itself for success in the competitive world of finance.