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CEO Awards
Most Respect CEOs
In collaboration with the
International Institute of Management
Hall of Fame
CEO Profile
John Stumpf - CEO of
Wells Fargo & Company
Company Profile
- Industry: Financial Services & Banking
- Employees: 267,600
- Revenues: $69.3B
- Market Cap: $135B
CEO Achievement
In addition to leading one of the largest banks and financial
services companies in US, he is respected for his leadership
performance and honesty. A CEO
that does not sugarcoat or omit bad news is a CEO to trust. In his
letter to the shareholders (during 2008 financial crisis) he said “We made some mistakes but kept our credit discipline...It will
be a rough year for our economy and our industry. Consumer loans
will continue under stress, chargeoffs [uncollectible debt] probably
will continue to rise." Wells
Fargo emerged stronger than most other banks and the reason is that
they did not invest in what they did not understand (unlike AIG,
Bank of America, and Citigroup).
Wells Fargo's Recognitions
-
Ranked world's 41st in Revenues in all industries (2009
Fortune)
-
Newsweek America’s #1 Green Bank and #13 Greenest Big Company (2009)
-
Human Rights Campaign Perfect Score of 100 on Corporate Equality
Index (2009)
-
DiversityInc. Top 50 Companies for Diversity (2009)
-
Top 10 Companies for Recruitment and Retention
-
Bank Technology News #1 Bank Technology Innovator of the Year (2009)
CEO Bio
John Stumpf was named Chief Executive Officer in June 2007, elected to
Wells Fargo’s Board of Directors in June 2006, and has been
President since August 2005. He became the Chairman for Wells Fargo
& Company in January 2010.
A 27-year veteran of the company, he joined the former Norwest
Corporation (predecessor of Wells Fargo) in 1982 in the loan
administration department and then became senior vice president and
chief credit officer for Norwest Bank, N.A., Minneapolis. He held a
number of management positions at Norwest Bank Minneapolis and
Norwest Bank Minnesota before assuming responsibility for Norwest
Bank Arizona in 1989. He was named regional president for Norwest
Banks in Colorado/Arizona in 1991. From 1994 to 1998, he was
regional president for Norwest Bank Texas. During his four years in
that position, he led Norwest’s acquisition of 30 Texas banks with
total assets of more than $13 billion.
In 1998, with the merger of Norwest Corporation and Wells Fargo &
Company, he became head of the Southwestern Banking Group (Arizona,
New Mexico and Texas). Two years later he became head of the new
Western Banking Group (Arizona, Colorado, Idaho, Nevada, New Mexico,
Oregon, Texas, Utah, Washington and Wyoming). In 2000, he led the
integration of Wells Fargo’s acquisition of the $23 billion First
Security Corporation, based in Salt Lake City. In May 2002, he was
named Group EVP of Community Banking. In December 2008, he led one
of the largest mergers in history with the purchase of Wachovia.
He serves on the Board of Directors for The Clearing House and the
Financial Services Roundtable. He also serves on the Board of
Trustees of the San Francisco Museum of Modern Art.
A Minnesota native, he earned his bachelor’s degree in finance from
St. Cloud State University, St. Cloud, Minnesota and his MBA with an
emphasis in finance from the University of Minnesota.
CEO Insights
Demonstrating the benefit of our diversified
business model, most of our consumer business showed strong growth
this quarter and helped to offset the decline at Home Mortgage -
John Stumpf CEO of Wells Fargo & Company
This outstanding group of environmental
experts, representing diverse perspectives and expertise, will help
Wells Fargo bring a thoughtful and balanced approach to integrating
environmental considerations into our business practices. They'll
also be our eyes and ears in industry, academia and non-governmental
organizations to make sure we anticipate emerging environmental
issues in our communities and globally - John Stumpf
CEO of Wells Fargo & Company
“We call them team members (an asset in which to invest), not
employees (an expense to be managed) - John Stumpf
CEO of Wells Fargo & Company
About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC)
is a diversified financial services
company providing banking, insurance,
investments, mortgage and consumer
finance through more than 10,000 Wells
Fargo and Wachovia stores, 12,000 Wells
Fargo and Wachovia ATMs, the internet
and other distribution channels across
North America and internationally.
They headquartered in San Francisco. One in three households in
America does business with Wells Fargo.
Wells Fargo has $1.2 trillion in assets and
more than 281,000 team members across
its 80+ businesses. It is ranked fourth
in assets and second in market value
of its stock among its U.S. peers as of December 31, 2009.
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