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Wells Fargo CEO plans corporate restructure

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Business Insider Intelligence February 13, 2020
Hi Folks.
Wells Fargo CEO Charles Scharf is changing the bank's corporate structure.
Wells Fargo CEO Charles Scharf is restructuring the embattled bank's corporate structure by splitting its three existing business units into five to increase oversight and accountability.

What was previously the wholesale bank will be broken into a commercial bank providing backend services for companies and an investment bank focused on capital markets. The firm's consumer bank will also be split into a unit focused on branches and small businesses and another specializing in consumer lending.

If Scharf's shakeup is successful, it could help Wells Fargo convince regulators it can appropriately manage risks and deserves to have its growth cap removed.
Shelagh Dolan
Head of Content
Shelagh Dolan
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