Wells Fargo is one of the
oldest and most well-known banks in the United States with a good reputation.
The current CEO of Wells Fargo is: John Stumpf. He is a Minnesota native and
received his college diploma in finance from St. Cloud Minnesota. He also got his MBA diploma with an
emphasis in finance from the University of Minnesota, so his background in the world
of financial knowledge and economics is very solid. Mr. Stumpf worked for Wells
Fargo for 26 years before becoming the CEO. He originally worked in the loan
administration department when Wells Fargo was known as Norwest Corporation.
There, he assisted with the disbursement and approval of loan products for
customers. Soon, he became senior vice president and the chief credit officer
for the Norwest Bank in Minneapolis, Minnesota. For several years he was assigned
various management positions within the bank, until 1989, when he was
responsible for the Norwest Bank in Arizona. In 1991, John Stumpf became the
regional president for all Norwest Banks within Colorado and Arizona.
From 1994 to 1998, Mr. Stumpf was the regional president for Norwest Bank
Texas, during
that time he helped the bank acquire 30 more branches within the state of
Texas, and the
total amount of assets was valued over $13 billion. Wells Fargo & Company
merged with Norwest Bank in 1998. During that time, John Stumpf was named the
head of the Southwestern Banking Group. This group consisted of all banks within
the states of New
Mexico, Texas, and Arizona. Two years later he became the head of
the new Western Banking Group, which consisted of 10 states. In the year 2000 he
was the leader for the acquisition of First Security Corporation, acquired by
Wells Fargo for $23 billion. In May of 2001, Mr. Stumpf earned the title of
Group EVP of Community Banking. He has been a long standing and respected member
of the Wells Fargo banking community, and was elected to the bank's Board of
Directors in June of 2006, serving as President since August of 2005.
Finally in June of 2007, Mr. Stumpf was named the Chief Executive Officer of
Wells Fargo. He has been an admirable leader and someone who has an intricate
working knowledge of the banking system. In 2008, he was named the San Francisco
Chronicle's CEO of the Year, a very distinguished honor. He also serves on
several different boards including the Board of Trustees of the San Francisco
Museum of Modern Artand is an important member of the California Business
Roundtable. John Stumpf has become one of the nation's leading CEO's and speaks
at a number of events, colleges, and other venues. He has led Wells Fargo
through the economic crisis, and the bank recently passed the Federal Reserve's
stress test. With his school diploma in finance and many years working in
different sectors of the banking world, it is no wonder that John Stumpf is a
highly regarded and respected Chief Executive Officer.
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