After her predecessor, Carrie Tolstedt, was blamed for Wells Fargo’s phony accounts scandal, the job of repairing the problem division has fallen to Mack, who previously led the bank’s retail brokerage. Mack has been cleaning house, shutting down more branches, and publicly doing damage control. That became more difficult when Wells Fargo revealed in August that it had discovered another 1.4 million accounts it believes may be fake, on top of the 2.1 million it previously estimated its agents had set up without authorization.
For more on Wells Fargo read "Inside Wells Fargo’s Plan to Fix Its Culture Post-Scandal."
Company Financials (2016, or most recently completed fiscal year)
|Market Value as of 9/14/17 ($M)||254600.7|