Wells Fargo needs more than a new CEO

Wells Fargo needs more than a new CEO johnsfoley

Wells Fargo has approached potential chief executives including JPMorgan Chase consumer-banking head Gordon Smith, PNC Financial Services CEO William Demchak and former U.S. Bancorp boss Richard Davis, the Wall Street Journal reported on June 11.

Demchak and Davis “took a pass,” the WSJ reported, adding that Smith has told confidants he is reluctant to take the job. Wells Fargo’s board is considering keeping interim Chief Executive Allen Parker in the job permanently after saying it would seek an outsider to fill the role, Reuters reported on June 5, citing two sources.

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