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Wrong Carrie Tolstedt?

Ms. Carrie L. Tolstedt

Senior Executive Vice President

Wells Fargo & Company

HQ Phone: (866) 878-5865

Email: t***@***.com

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Wells Fargo & Company

420 Montgomery Street

San Francisco, California 94163

United States

Company Description

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer a ... more

Find other employees at this company (148,621)

Background Information


Team Member
Norwest Bank

Board Member
Consumer Bankers Association

Web References (200 Total References)

As a result of the righteous ... [cached]

As a result of the righteous outrage following news that Wells Fargo rewarded Carrie Tolstedt, the head of the group that was recently exposed as creating some 2 million fake credi..

"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.' "Less than tw..

Carrie Tolstedt is the ... [cached]

Carrie Tolstedt is the Wells Fargo executive who presided over a titanic, multi-year fraud through which at least 5,300 of the employees who reported to her opened up fake accounts in Wells' customers' names, racking up fees and fines, trashing the customers' credit ratings, and, incidentally, pulling in record revenues for Tolstedt's department, which Wells' management recognized by giving her a $125M parting gift when she left the company at the end of July, just weeks before the scandal broke.

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Wells Fargo has a policy through which bonuses can be clawed back if it's later determined that their beneficiaries participated in illegal or unethical conduct.
Wells Fargo will not invoke that policy in Ms Tolstedt's case, possibly because she has $125M with which to hire lawyers to fight such an action.

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 where employees opened 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.

We highlight below the Company’s 2015 ... [cached]

We highlight below the Company’s 2015 performance and compensation decisions for our named executive officers—John G. Stumpf (CEO), John R. Shrewsberry (CFO), Timothy J. Sloan (President and Chief Operating Officer (COO) since November 2015, prior to that Senior Executive Vice President, Wholesale Banking), David M. Carroll (Senior Executive Vice President, Wealth and Investment Management), Avid Modjtabai (Senior Executive Vice President, Consumer Lending), and Carrie L. Tolstedt (Senior Executive Vice President, Community Banking).

Carrie L. Tolstedt
Modjtabai and Tolstedt was increased to $1,750,000.
Carrie L. Tolstedt
Carrie L. Tolstedt, 817,661 shares held in a trust of which she is a co-trustee;
Includes the following number of RSRs and 2013 Performance Shares (including whole share dividend equivalents credited as of February 24, 2016) that will vest within 60 days of February 24, 2016: Mr. Stumpf—23,573 RSRs and 553,755 Performance Shares; Mr. Shrewsberry—19,452 RSRs and 108,573 Performance Shares; Mr. Carroll—3,767 RSRs and 243,652 Performance Shares; Ms. Modjtabai—3,563 RSRs and 243,652 Performance Shares; Mr. Sloan—4,752 RSRs and 243,652 Performance Shares; and Ms. Tolstedt—3,692 RSRs and 243,652 Performance Shares; and all executive officers as a group—76,101 RSRs and 2,104,695 Performance Shares.

Carrie Tolstedt See Full ... [cached]

Carrie Tolstedt See Full Profile Carrie Tolstedt

Carrie Tolstedt Senior EVP of Community Banking Wells Fargo

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