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Wells Fargo risks regulatory action over pace of restitutions
Regulators are privately signaling that they're still not satisfied with the bank's progress in compensating victims and shoring up controls.
Ex-Wells Fargo exec fights SEC on fake accounts
Carrie Tolstedt, who was a senior vice president at the bank, cited her constitutional right against self-incrimination more than 100 times in a response filed to an SEC complaint claiming she misled investors.
Wells Fargo abandons plan to shut down personal credit lines
In recent days, the lender began informing customers who have been using their personal credit lines that the financing channels will remain available.
Wells Fargo names Steve Black chairman
Charles Noski, who had served as the bank's chairman since March 2020, is stepping down.
Morgan Stanley bucks trend of more advisers leaving wirehouses
The company maintained its healthy recruiting pace over the first two quarters of the year even as losses continued to mount among its wirehouse competitors.
BlackRock, Wells Fargo delay return to office on Covid concerns
The shifts signal that the financial services industry is rethinking its return-to-office plans as the highly contagious delta variant sweeps across the country.
Wells Fargo Asset Management rebrands with new CEO
Legg Mason vet Joe Sullivan is bullish on the future of Allspring Global Investments. The $604 billion asset management arm of Wells Fargo & Co. is being acquired for $2.1 billion by GTCR and Reverence Capital Partners.
Wells Fargo says return to office will look ‘mostly’ like pre-Covid
The bank, with almost 260,000 employees, will start calling workers back to the office on Sept. 7, a process that will continue through October, according to an internal memo.
Wells Fargo Advisors head count sinks 9.8% annually
Wells Fargo & Co. is revamping its wealth management franchise and such changes often lead to a reduction of the number of financial advisers at large enterprises.
Wells Fargo shuts down personal credit lines
The bank said it will no longer offer the product to customers as part of an effort to simply its offerings.
Bank CEOs scolded by senators
Banking Committee Chairman Sherrod Brown challenged the executives 'to be as good to the American people as the nation has been to you.'
Wells Fargo fails to shake 401(k) suit
The development likely gives the plaintiffs more leverage for a settlement, as the class-action case has moved one step closer to a trial.
Wells Fargo adviser head count slips 8% year over year
The decline is expected to continue over the next six months as the bank closes its international wealth management business. The embattled bank recently revised how it tallies its adviser head count total and this year began including about 800 to 900 private bankers and portfolio managers.
Moving past the pandemic
The financial services industry relied on technology and innovation to adapt and keep business running throughout the pandemic, and should continue to embrace much of what was learned.
Wells Fargo stops using Abbot Downing name for high-net-worth unit
The bank's business of managing ultra-rich clients' money will be moved under the Wells Fargo Private Bank brand.
Wells Fargo, Schwab put Covid-19 vaccine plans in place
The companies are the latest that work with thousands of financial advisers to make plans for employees or work with local officials to ease the introduction of vaccines.
More changes at Wells Fargo Advisors, this time to management
The bank continues to cut costs and simplify its broad wealth management business. Just last month, Wells Fargo said it was selling its asset management business, with $600 billion in assets, to two private equity managers.
PE investments are good for RIAs. What about clients?
The influx of PE money is a huge vote of confidence for the health and future of the RIA business model, but some industry observers have voiced concerns.
Wells Fargo gets Fed nod for overhaul plan
Fed officials reportedly privately signaled the bank that they accept its proposal for overhauling risk management and governance, which would move Wells a step closer to getting the cap on its assets lifted.
Talent fight erupts as Wells Fargo exits foreign wealth business
UBS, Banco BTG Pactual, Insigneo and Andbank are among those seeking to hire from the roughly 330 advisers who were part of Wells' international wealth unit.
