Wells Fargo
Arbitrator Orders Wells to Clean Private Banker’s Record—and Pay for It
Atlanta wealth management banker wins expungement of report that she was fired for enrolling customers in unasked-for insurance policies, something Wells allegedly encouraged.
Wells Loses Texas Veteran, Maryland Up-and-comer to Independence
Texas broker who spent his 27-year career at Wells and predecessor A.G. Edwards chafed over small-account policies; nine-year NextGen star in Maryland wanted greater marketing and investment-choice freedom.
SEC Charges Former Wells Executives with Misleading Investors
Former CEO John Stumpf and retail banking head Carrie Tolstedt allegedly inflated cross-selling results, regulator charges in the latest fallout from Wells’ long-running fake-account scandal, regulator charges.
Baird Hires Long-Time Wells Fargo Recruiting Executive
Chip Walker, who Wells Fargo laid off after 28 years as part of a companywide restructuring, is now recruiting for Robert Baird in St. Louis.
Finra Suspends Ex-Wells Broker in Texas Who Tried to Evade Cash Reports
Industry veteran ‘structured’ cash deposits and withdrawals of more than $60,000 in sub-$10,000 increments to avoid federal reporting requirements, Finra said.
Merrill Hires Veteran Manager from Rival to Oversee a Connecticut Market
Merrill recruits Wells Fargo manager to fill a void, breaking a years-long recruiting freeze and reliance on a rotating bench of insiders.
Wells Clearing Unit Fined $300K for Sending Wrong REIT Valuations
Complaint from elderly customer about inconsistent statement values triggered investigation of clearing firm’s procedures, Finra said.
Wells Fargo to Freeze Raises for High Earners as It Limits Costs
Wells Fargo & Co. plans to freeze raises for top earners as the bank’s new leadership team retools compensation practices with a close eye on costs, according to people briefed on the plans.
Wells Fargo Lifts Hiring Bonuses for Advisors Hitting Asset-Transfer Targets
High-end Wells’ recruits can pocket 340% of their trailing-12 month production—up from around 325%—if they hit asset growth targets within three years of their arrival.
Wells Signs Two $2-Mln-Plus Brokers from Merrill, UBS
Merrill broker who generated $2.8 million in previous 12 months joins Wells in Houston the same day as $2.3-million UBS producer arrives at a Wells branch in St. Louis.
Wells Reorganizes Wealth Division, Melding Private Bankers into Brokerage Unit
Wells Fargo Advisors head Jim Hays to add private bankers to his realm in an efficiency push that creates “one overarching management structure.”
