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Wrong Carrie Tolstedt?

Ms. Carrie L. Tolstedt

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Background Information

Employment History

Business First

Senior Executive Vice President of Community Banking

Wells Fargo & Company


Board Member
Junior Achievement Inc

Board Member
Consumer Bankers Association

Web References (115 Total References)

/t/finance - Home [cached]

Wells Fargo executive Carrie Tolstedt will receive a $124.6 million payday when she retires at the end of this year.

Carrie ... [cached]

Carrie Tolstedt Senior EVP of Community Banking at Wells Fargo

In fact, despite beefed-up "clawback" ... [cached]

In fact, despite beefed-up "clawback" provisions instituted by the bank shortly after the financial crisis, and the recent revelations of massive misconduct, it does not appear that Wells Fargo is requiring Carrie Tolstedt, the Wells Fargo executive who was in charge of the unit whose employees were responsible for opening more than 2 million largely unauthorized customer accounts--a seemingly routine practice that employees internally referred to as "sandbagging"--to give back any of her nine-figure pay.

Your Mortgage Broker in Oakville, Mississauga, Burlington and Toronto [cached]

Earlier this year, Carrie Tolstedt, the Wells Fargo executive in charge of the unit that’s now at the center of this current scandal, announced that she was exiting the company.  And guess what, she will be walking away from the bank later this year with $124.6 million in stock, options, and restricted Wells Fargo shares, not to mention the $7.3 million bonus she received last year.  It has been stated that she is responsible for the pressure cooker sales culture and employees were regularly expected to force “unneeded and unwanted� products on customers to satisfy sales goals.

CEO Stumpf will forfeit ... [cached]

CEO Stumpf will forfeit roughly $41 million in unvested stock; Carrie Tolstedt, the senior executive who oversaw Wells Fargo's retail banking unit, will give up $19 million in outstanding stock awards of her own. (Tolstedt retired earlier this year.) Stumpf will forego his salary while Wells Fargo conducts an internal investigation of its business practices.1,4,5

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