Wells Fargo’s Poker-Faced CEO Sows Unease While Considering Change

Wells Fargo’s Poker-Faced CEO Sows Unease While Considering Change
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(Bloomberg) — Change is afoot inside Wells Fargo & Co.

Since Charlie Scharf arrived as the bank’s new chief executive officer in October, he’s held a marathon of meetings with executives, grilling them about the ways they do business. On busy days, a lineup of presenters has come and gone, some flummoxed by pointed questions or uncertain whether he was satisfied by their answers.

The intense review is prompting executives at the San Francisco-based bank to ponder their units’ strategies — as well as what’s in store for their own careers. But most of the answers are in the mind of Scharf, who’s becoming known within the bank for his poker face during meetings and who’s said nothing publicly since taking control from an office in New York. Shareholders, too, are wondering how soon they may be briefed on the next phase of its overhaul.

“Everything’s on the table for consideration,” Chief Financial Officer John Shrewsberry told investors at a conference in New York this month. “He’s certainly not beholden to decisions that we made previously.”

Source: Yahoo Finance

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