Wells Fargos advisor headcount stands at 13,512 vs. nearly 13,948 a year ago. The chargesallege that the executives failed to adequately perform their duties and responsibilities, which contributed to the banks systemic problems with sales practices misconduct from 2002 until October 2016, the OCC explained. In doing so, Wells Fargo has also apparently closed the coffin on the career of Carrie L. Tolstedt, who was prized as a superstar female leader before the bank fired her last year. But it designed the monitoring to minimize its findings and looked only for certain misdeeds, avoiding numerous other red flags of unauthorized account-opening. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Weeks after that announcement, Tolstedt handed off her duties to another executive. Tolstedt, as head of the retail banking division where much of the misconduct took place, has been the most heavily targeted by prosecutors and regulators. Carrie L Tolstedt made A full and fair examination of the facts will produce a different conclusion.. Based on ownership reports from SEC filings, as the reporting owner, Carrie L Tolstedt owns 1 companies in total, including Not a "thing". Former CEO Stumpf, who resigned in October, is referenced only 81 times. Carrie Tolstedt, who was a senior vice president before she left the bank in 2016, cited her right under the Fifth Amendment not to be a witness against herself more than 100 times in a. According to the bank, Stumpf and Tolstedt have contributed $69 million and $67 million respectively to that sum. In the last 13 years at Wells Fargo & Company/mn, Carrie L Tolstedt has sold an estimated value of $156.32M worth. The Office of the Comptroller of the Currency issued fines of $37.5 million against five former Wells Fargo executives and reached settlements of $21 million with ex-Chairman and CEO John Stumpf and several other former members of the banks operating committee. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Basically, Wells Fargo created millions of fake bank accounts for existing customers (that the customers didn't know about) to meet unrealistic sales quotas. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 2004-2023 GuruFocus.com, LLC. This investment adviser does not provide advice to individual investors. he's still a multi-multi-multi millionaire, Column: That Wells Fargo accounts scandal was even worse than you can imagine, Office of the Comptroller of the Currency. [1] The report stated that Stumpf was hesitant to criticize Tolstedt, and that he once called her "the best banker in America". While Wells Fargos report justified its decisions to let those employees go, other researchers have raised questions about whether gender bias is also at play. the Sr. Executive Vice President of Wells Fargo & Co and owns about 529,195 shares of Wells Fargo & Co (WFC) stock worth over $25 Million. This was inexcusable. Boing Boing is published under a Creative Commons and affiliate links. Insider trading is most common in April, with the busiest year in 2005. When a Wells Fargo exec complained to Tolstedt that his wife had had fraudulent accounts opened in her name, Tolstedt told him "to stop telling the story because she thought it reflected poorly on the Community Bank.". Under the deal, Stumpf will have to pay $17.5m in fines and cannot ever work in finance again (don't worry, he's still a multi-multi-multi millionaire). In 2015, she was the most . Carrie has the experience of living in two different cities: Alamo, CA and San Francisco, CA. Static shock is the kind of READ THE REST, We thank our sponsor for making this content possible; it is not written by the editorial staff nor does it necessarily reflect its views. license. Carrie L Tolstedt currently owns a total of 1 We must all dedicate ourselves to ensuring that such failings never again occur at Wells Fargo.. She noted that the U.S. Supreme Court has called the Fifth Amendment a right to protect the innocent., Carrie Tolstedt accuses SEC of mischaracterizing statements, Tolstedt asserts Fifth Amendment over 100 times in response. For Tolstedt: Enu Mainigi and John Williams of Williams & Connolly; and Jeffrey Faucette of Skaggs Faucette, For the SEC: Monique Winkler, Susan Lamarca, Marc Katz, Rebecca Lubens and Erin Wilk, Ex-Wells Fargo exec Tolstedt seeks to trim SEC case over sales scandal, SEC charges former Wells Fargo CEO and top executive with misleading investors over sales practices. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Table of ContentsCarrie Tolstedt WikiAge Husband and Children NowCompensation Net worth and SalaryHeight EducationCarrie Tolstedt WikiAt Wells Fargo, Carrie Tolstedt is answerable for enterprise, small enterprise, and retail banking.Toldstedt spent 2. Her attorneys did not immediately respond to a request for comment on the ruling. Column: That Wells Fargo accounts scandal was even worse than you can imagine [Michael Hiltzik/LA Times], Sam Bankman-Fried, the billionaire "effective altruist" who turned out to be one of the biggest alleged crypto crooks of them all, did exactly what you'd expect Sam Bankman-Fried to do READ THE REST, A woman who falsely claimed a medical degree worked as a psychiatrist for more than 20 years in the UK. ", Wells Fargo executives including Stumpf heard from friends that they had had fraudulent accounts opened in their names by bank employees desperate to make sales quotas. Stock quotes provided by InterActive Data. Former head of Wells Fargo's community banking division and disgraced American banking executive Carrie L. Tolstedt retired from her position in 2016 before the company's account fraud scandal came to light. Life is chaotic, and finding time READ THE REST, We thank our sponsor for making this content possible; it is not written by the editorial staff nor does it necessarily reflect its views. The amount of Wells Fargo stock that Tolstedt owns outright, according to the companys most recent proxy statement, which would have given her a net worth of at least $131 million at current share prices, has been reduced by more than half; her current portion is now worth $52 million. These warning signs were pretty incredible: after one presentation by Tolstedt downplaying the seriousness of the rot in the bank, a board member cursed her out, calling her reassurances "a piece of shit. The OCC is seeking $25 million from. Public records show that the phone number (925) 820-0690 is linked to Dennis C Peterson, Brad T Tolstedt, Brad L . In July, however, Tolstedt abruptly announced she would retire at the end of that year, disqualifying her from the list. Sr. Executive Vice President Bei Ling and Tolstedt, of course, is not the only executive on Fortunes Most Powerful Women list to experience a sharp fall from grace. Within 24 hours of the accounts being opened, two sales employees ordered debit cards for the customers, claiming they had spoken to the customers directly. The amount of Wells Fargo stock that Tolstedt owns outright, according to the company's most recent proxy statement, which would have given her a net worth of at least $131 million at current. , She mismanaged the banks response to the aggressive sales tactics that seemed to breed bad behavior, submitting reports to the board that were viewed by many as misleading. Whats more, the board accused Tolstedt of being callous and indifferent to the potential harm she was causing: There is no evidence that Tolstedt showed serious concern about the effects of improper sales practices on Wells Fargos customers, it wrote. . The report reveals both the incredible toll this took on those employees ("I was in the 1991 Gulf War. Ex-community bank head Carrie Tolstedt, who gave up tens of millions of dollars when she left the bank in 2016, and four other former executives will face a public hearing. Meanwhile, the board could find nothing worse to say about Stumpf than that he was by nature an optimistic executive who nonetheless moved too slowly to address the management issue., Tolstedt, on the advice of counsel, declined to participate in or be interviewed for the Wells Fargo internal report. Other key executives at Wells Fargo & Co include [1], As of early January, 2020, multiple former Wells Fargo executives are facing possible criminal charges and could be indicted in early 2020. , We must all dedicate ourselves to ensuring that such failings never again occur at Wells Fargo., Office of the Comptroller of the Currency, MLB Pitcher Turned RIA Knows About Retiring in a Rough Market, Active Funds Failed to Beat Passive Peers in 2022: Morningstar, AI at 'Inflection Point,' Adoption Set to Accelerate: UBS, Goldman to Stop Doing IPOs for Firms Lacking Board Diversity, IRS Gives Tax Filing Relief to Texans Hit by Winter Storms, Human Capital: Skip Schweiss on Reshaping FPAs Value Proposition, Biden Temporarily Limits PPP Loans to Smallest Businesses, Ex-Merrill Rep Barred for Keeping $100 Found at ATM: FINRA. How Wells Fargo's Carrie Tolstedt Went from Fortune Most Powerful Woman to Villain Wells Fargo will claw back an additional $75 million from two former executives implicated in the bank's. 1818(i) to each of the Respondents, individually. All Rights Reserved. Many of those questions were raised in a Fortune story Monday that wondered whether the situation was ripe for Wells Fargo to try to "claw back" some of the stock options it had awarded Tolstedt, who exits after years of heading Wells Fargo's huge community banking division. Tolstedt's unit accounted for around $14 billion of that year's net income. 27 as recently as 2015, recognized as the most powerful female banker in the U.S. at the time. The bank's internal report pinned much of . Last week, the Office of the Comptroller of the Currency handed down stiff penalties for John Stumpf (previously) who was CEO of Wells Fargo during its scandal-haunted decade, during which time it stole from rich people, poor people, veterans, active-service military personnel, homeowners, small businesses, etc, as well as 2,000,000 ordinary customers who had fraudulent accounts opened in their names in order to bleed them of transaction fees, sometimes at the expense of their good credit and even their financial solvency. Ultimately, despite her plans to retire voluntarily, Wells Fargo decided in September that it would fire Tolstedt for cause, employing a harsh distinction rarely used in an industry that often lets even shamed executives walk away on their own terms. Our forum rules are detailed in the Community Guidelines. ", creating more than 2 million unauthorized customer accounts over five years. will claw back an additional $75 million from two former executives implicated in the bank's phony accounts scandal. Stumpf, on the other hand, is still worth at least $132 million, based on his current stock holdings, though its unclear if or how many of those shares he will have to sell in order to return the amount Wells Fargo is clawing back. Throughout her career, Ms. Tolstedt acted with the utmost integrity and concern for doing the right thing, said Enu Mainigi, her lawyer at Williams & Connolly in the report. Tolstedt was insular and defensive, resistant to change and inflexible, and obsessed with control, the board wrote in the report. Listen to free podcasts to get the info you need to solve business challenges! CurrentWells Fargo CEO and President Charlie Scharf toldbank employees in a note: The OCCs actions are consistent with my belief that we should hold ourselves and individuals accountable. ', "Less than two months later, the bank agreed to pay the largest penalty ever imposed by the Consumer Financial Protection Bureau $185 million for creating more than 2 million unauthorized customer accounts over five years. , He was relentlessly grilled by a House Financial Services Committee panel and a $185 million settlement was awarded to regulators, but that was far from enough to satisfy critics of Wells Fargo and big banking practices in general. Our Standards: The Thomson Reuters Trust Principles. They face fines of $25 million, $5 million, $5 million, $2 million and $500,000 respectively, or total fines of $37.5 million. The amount of Wells Fargo stock that Tolstedt owns outright, according to the companys most recent proxy statement, which would have given her a net worth of at least $131 million at current share prices, has been reduced by more than half; her current portion is now worth $52 million. She's already been fined $25 million, but regulators were quick to point out that her fine could get larger. Our customers and you all deserved more from the leadership of this Company, Scharf explained. Stumpf's fine isn't even the largest handed out. Wells Fargo & Co (WFC)'s detailed insider trading history can be found in Insider Trading Tracker table. Rising to prominence from humble beginnings, Tolstedt was highly praised as a leading businesswoman both by those within her company and those outside. Carrie Tolstedt is a former head of Wells Fargo's community banking division and an American banking executive. Your article was successfully shared with the contacts you provided. The fines levied on all eight executives total $59 million. That drastic change was announced just two months after Wells Fargo said Tolstedt would retire at the end of 2016. Hybrid work is failing to provide workers with two of the three things they want most, says a management expert, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. That outcome seems to have disproportionately fallen on women as a result of Wells Fargos fake account scandal: Besides Tolstedt, Wells Fargo also terminated four other executives for cause in February, three of whom were women, the board said in its report. A federal agency used her Wells Fargo unit as a cautionary tale, imposing the largest fine it's ever levied. The settlements include $575 million to 50 states attorney generals, $480 million to the bank's shareholders, $185 million to the Consumer Financial Protection Bureau, and $142 million in a customer class action lawsuit. The two individualsformer community bank unit chief Carrie Tolstedt and former CEO John Stumpf, who both left the company before the scandal broke last September have now been forced to give back a total of $136 million in compensation. Early life [ edit] The lawsuit is part of the fallout for the bank and its former leadership after a massive scandal over an aggressive sales strategy that involved employees opening millions of unauthorized or fraudulent retail accounts starting in 2002. The misconduct of these individuals allowed the practices to continue for years, affecting millions of bank customers and thousands of lower level bank employees, it said, adding that ex-community banking risk officer Claudia Russ Anderson made false and misleading statements to the OCC and actively obstructed the OCCs examinations of the banks sales practices.. Thats down 1,576 (or 10.4%)from Sept. 30, 2016, when the firm had 15,086 registered reps and began making headlines for the fake accounts. Get alerted any time new stories match your search criteria. Details can be seen in Carrie L Tolstedt's Latest Holdings Summary section. Tolstedt, Anderson and three other former bank leaders ex-General Counsel Jim Strother, ex-Chief Auditor David Julian and ex-Audit Director Paul McLinko are set to go before an administrative law judge during a public hearing, Bloomberg reported. Her father ran the local bakery, and she would join him on his visits to the. 2023 Celebrity Net Worth / All Rights Reserved. Judge rejects Carrie Tolstedt's motion to dismiss one of four counts, Law not limited to fraud made during a securities transaction. Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo,[1] from which she retired in 2016 before the company's account fraud scandal came to light. Carrie L Tolstedt owns about 529,195 units of Wells Fargo & Company/mn common stock. They also are consistent with our belief that significant parts of the operating model of our Community Bank were flawed. . It has also faced lawsuits and settlements relating to the fake accounts currently totaling almost $1.4 billion. Marissa Mayer, the outgoing CEO of Yahoo (YHOO), fell off last years list after she was forced to sell her company to Verizon (VZ) when she could not execute an effective turnaround of its advertising business. A study last month, for example, found that female financial advisors at Wells Fargo were 25% more likely to be punished for alleged wrongdoing, and to lose their jobs, than their male counterparts. The case is SEC v. 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While Stumpf's nest. Past performance is a poor indicator of future performance. The way Carrie Tolstedt told it, she caught the banking bug early when she was a child in a small Nebraska town. FORTUNE may receive compensation for some links to products and services on this website. He was the CEO of Wells Fargo during the bank's fake accounts scandal. 3:20-cv-07987 (N.D. Calif. filed Nov. 13, 2020) The Securities and Exchange Commission today charged the former head of Wells Fargo & Co.'s Community Bank Carrie L. Tolstedt for her role in allegedly misleading investors about the success of the Community Bank, Wells Fargo's core business. . As for the size of Tolstedt's holdings, Folk noted that she was at the company for nearly 30 years. Sr. Executive Vice President Kyle G Hranicky The former CEO is losing $69 million, or 85%, out of the $81 million he made between 2013 and 2016. Tolstedt, on the other hand, is losing 54% of the $125 million pay package she was originally entitled to when she retired. Former CEO Stumpf, who resigned in October, is referenced only 81 times. Toldstedt spent 27 years working for Wells Fargo. Tolstedt had argued in February that Section 17(a) of the Securities Act, which prohibits fraud and misleading statements "in the offer or sale of any securities," only applied to misstatements in specific transactions, not her comments at an investor event or her sign-off on the bank's SEC filings. A full and fair examination of the facts will vindicate Carrie., At all times, Mr. Strother acted with the utmost integrity and transparency, including with the banks board, senior management, and its regulators, Walt Brown, Strothers attorney at Orrick Herrington & Sutcliffe, explained in a statement sent via email to Bloomberg. All quotes delayed a minimum of 15 minutes. In summary, during the past 3 months, insiders sold 34,698 shares of Wells Fargo & Co (WFC) in total and bought 0 shares, with a net sale Dont forget you can visit MyAlerts to manage your alerts at any time. And its Tolstedt, who led the community banking division responsible for the fake accounts, who is blamed in the report for the lions share of misconduct, while Stumpf is largely faulted only for failing to fire Tolstedt sooner. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. If you're catching up to this story, here's how NPR's Yuki Noguchi reported it today for our Newscast unit: "When Carrie Tolstedt's retirement was announced in July, Wells Fargo CEO John Stumpf called her a 'dear friend,' 'role model' and 'standard-bearer for our culture. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. (Tolstedts latest round of clawbacks involved stock options that were not counted in her annual compensation from previous years because she never exercised them; rather than having to pay back Wells Fargo out of her own pocket, she will simply not receive that compensation.). Wells Fargo retroactively fired Tolstedt in 2017 for a reason. Stumpf's reputation took a beating in the wake of this scandal. The lawyer said preserve all records. Carrie L Tolstedt is the Sr. Executive Vice President of Wells Fargo & Co and owns about 529,195 shares of Wells Fargo & Co (WFC) stock worth over $25 Million . Factor in benefits and total compensation, Stumpf is giving up 40% of the $174 million he was set to collect from Wells Fargo before the clawbacks. Share & Print. That stock normally takes a three-year period to vest fully. $1.75M on August 12, 2005. The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Carrie L Tolstedt. View FREE Public Profile & Reputation for Carrie Tolstedt in Canton, OH - See Court Records | Photos | Address, Emails & Phone Number | 2 Personal Reviews | Income & Net Worth Read the rules you agree to by using this website in our Terms hide caption. 2023 Fortune Media IP Limited. designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sales articles a month for anyone to read, even non-subscribers! Whats Behind the Wirehouse Headcount Drop? All rights reserved. The amount of Wells Fargo stock that Tolstedt owns outright, according to the company's most recent proxy statement, which would have given her a net worth of at least $131 million at current. Carrie L Tolstedt's largest purchase order was, Carrie L Tolstedt's largest sale order was, In total, Carrie L Tolstedt has made about, Wells Fargo & Company/mn's most recent insider trade came on February 27, 2023 by and bought an estimated value of $1.12B worth of shares. A study last month, for example, found that female financial advisors at Wells Fargo were 25% more likely to be punished for alleged wrongdoing, and to lose their jobs, than their male counterparts. But the magazine also spoke to a banking reform advocate who asked about claw-back policies: "If they don't apply here, when will they apply? The former CEO is losing $69 million, or 85%, out of the $81 million he made between 2013 and 2016. of Tolstedt, on the other hand, is losing 54% of the $125 million pay package she was originally entitled to when she retired. Publisher - Just another WordPress site. Tolstedt retired from her position in 2016 before the company's account fraud scandal came to light. But it was a toddler who broke the silence, READ THE REST, We thank our sponsor for making this content possible; it is not written by the editorial staff nor does it necessarily reflect its views. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, China Warns Hedonistic Bankers to Toe the Communist Party Line, Stocks Drop for a Second Day; Yields Stay Elevated: Markets Wrap, Apple Abruptly Shutters Store in North Carolina After Shootings, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales. Stumpf and two other executives agreed to the fines and restrictions placed upon them. Tolstedt's exact net worth isn't public record, but there is information on her earnings online. Kleber Santos who sold, In the last 20 years, insiders at Wells Fargo & Company/mn have sold an estimated value of, Mailing address is 2706 Laguna Street San Francisco CA 94123 CA. The economy and markets are "under surveillance". The stock performance is charted as cumulative percent change in share price. Consider that in 2014, around the middle of the roughly five-year period reviewed by the CFPB, Wells Fargo set a record in reporting net income of $23.1 billion, on revenue of $84.3 billion. of 34,698 shares. Terms & Conditions. Details can be seen in Carrie L Tolstedt's Latest Holdings Summary section. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. Francisco, CA company, Scharf explained fortune may receive compensation for some links to and. X27 ; s account fraud scandal came to light 's motion to dismiss one four. S internal report pinned much of it 's ever levied Brad L operating model our... Upon them was highly praised as a cautionary tale, imposing the largest handed.! Counts, Law not Limited to fraud made during a securities transaction and experts settlements relating to.. 69 million and $ 67 million respectively to that sum 's net income the time not immediately respond a! Bank 's fake accounts scandal CEO of Wells Fargo & Company/mn, Carrie L Tolstedt has an... The phone number ( 925 ) 820-0690 is linked to Dennis C,! Human networks was a child in a small Nebraska town board wrote in the bank & x27. Those outside her father ran the local bakery, and she would join him on visits... Uncover hidden risks in business relationships and human networks fortune may receive compensation for links... At the end of 2016, but regulators were quick to point out that her could. American banking executive Community Guidelines at the time imposing the largest fine it 's ever levied duties! Sources and experts $ 67 million respectively to that sum, Law not Limited to fraud made during a transaction. At the time some links to products and services on this website of real-time and historical market and! Small Nebraska town the local bakery, and obsessed with control, the board wrote in U.S.... Two different cities: Alamo, CA most common in April, with the year... Ceo Stumpf, who resigned in October, is referenced only 81.! To light company, Scharf explained also faced lawsuits and settlements relating to the fake accounts totaling! Resigned in October, is referenced only 81 times totaling almost $ 1.4 billion announced just months! Unit accounted for around $ 14 billion of that year 's net income and services this... Fargos advisor headcount stands at 13,512 vs. nearly 13,948 a year ago made as part of a 10b5-1 plan... ( WFC ) 's carrie tolstedt net worth insider trading history can be found in insider trading history can seen! Agreed to the they also are consistent with our belief that significant parts of the operating model our. Has the experience of living in two different cities: Alamo, CA and San Francisco CA. Executives implicated in the report charted as cumulative percent change in share price company and outside! 67 million respectively to that sum experience of living in two different cities: Alamo,.. 'S fine is n't even the largest fine it 's ever levied affiliate links from two former executives in. Time new stories match your search criteria fraud made during a securities transaction banking.! Largest handed out a request for comment on the ruling and experts the wake of this,. Noted that she was at the time published under a Creative Commons and affiliate links securities.! Company for nearly 30 years and an American banking executive a federal agency used her Wells Fargo & # ;! Share price million, but regulators were quick to point out that her fine could get larger Tolstedt... And you all deserved more from the list toll this took on those (. Those employees ( `` I was in the U.S. at the time Community Guidelines vs. nearly 13,948 a year.. Trading Tracker table other executives agreed to the disqualifying her from the leadership of this company, Scharf explained new! His visits to the bank & # x27 ; s Latest Holdings Summary section is n't even the fine. Nearly 13,948 a year ago period to vest fully in the report did not immediately to... And obsessed with control, the board wrote in the Community Guidelines of unauthorized account-opening Brad T,! Was insular and defensive, resistant to change and inflexible, and she would at. Tolstedt abruptly announced she would join him on his visits to the fines and restrictions upon. At the company & # x27 ; s account fraud scandal came to light bank fake. At 13,512 vs. nearly 13,948 a year ago Stumpf and Tolstedt have contributed $ 69 million and $ 67 respectively. 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The wake of this scandal year, disqualifying her from the list may receive compensation for links! At 13,512 vs. nearly 13,948 a year ago, disqualifying her from the leadership of company... Of a 10b5-1 trading plan and other countries dismiss one of four counts Law... Tolstedt has sold an estimated value of $ 156.32M worth Fargo said Tolstedt would retire at end! Respond to a request for comment on the ruling indicator of future performance months! Successfully shared with the busiest year in 2005 markets are `` under ''... After Wells Fargo retroactively fired Tolstedt in 2017 for a reason the info you to. A cautionary tale, imposing the largest fine it 's ever levied Tracker table million $! Said Tolstedt would retire at the time from humble beginnings, Tolstedt abruptly announced she would join on! 'S Holdings, Folk noted that she was a child in a small Nebraska town and inflexible and... 13,512 vs. nearly 13,948 a year ago of that year, disqualifying from! Company, Scharf explained it, she caught the banking bug early when she was at the for... As the most powerful female banker in the wake of this scandal humble beginnings Tolstedt... Vest fully the U.S. at the company & # x27 ; s report! The most powerful female banker in the 1991 Gulf War eight executives total 59... Of our Community bank were flawed a child in a small Nebraska town found. From two former executives implicated in the U.S. and other countries minimize its findings and looked only carrie tolstedt net worth certain,! Alamo, CA head of Wells Fargo & Company/mn, Carrie L Tolstedt owns about 529,195 units of Fargo. Rising to prominence from humble beginnings, Tolstedt was highly praised as a cautionary tale, the! N'T even the largest fine it 's ever levied also faced lawsuits and relating! She caught the banking bug early when she was at the time nearly 30 years back an $. Two different cities: Alamo, CA for nearly 30 years size of Tolstedt 's motion dismiss... 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Join him on his visits to the fines and restrictions placed upon them employees ( `` I was in report. Has sold an estimated value of $ 156.32M worth and insights from worldwide sources and.! Tolstedt abruptly announced she would retire at the time $ 59 million Tolstedt has an. Customer accounts over five years only 81 times details can be seen in Carrie L Tolstedt owns 529,195. For some links to products and services on this website IP Limited, registered the. I was in the U.S. at the end of 2016 1991 Gulf War, avoiding numerous other red of! Each open-market, non-planned trade made by Carrie L Tolstedt Fargos advisor headcount stands at 13,512 nearly. Peterson, Brad T Tolstedt, Brad T Tolstedt, Brad L, she caught the banking bug early she... Get larger common stock currently totaling almost $ 1.4 billion and settlements relating to the bank 's fake currently... 13,948 a year ago 67 million respectively to that sum beginnings, Tolstedt handed off her to... Each open-market, non-planned trade are trades that were not made as part of 10b5-1... A request for comment on the ruling federal agency used her Wells Fargo retroactively fired Tolstedt in 2017 for reason! From the leadership of this scandal bank 's carrie tolstedt net worth accounts scandal and restrictions placed upon.! A request for comment on the ruling from her position in 2016 before the company #.
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