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2017-03-13T00:00:00.000Z

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Wrong Carrie Tolstedt?

Ms. Carrie L. Tolstedt

Senior Executive Vice President of Community Banking

Wells Fargo & Company

Direct Phone: (415) ***-****       

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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 ... more

Find other employees at this company (172,261)

Background Information

Affiliations

Board Member
Junior Achievement Inc

Board Member
Consumer Bankers Association

Web References (125 Total References)


Both Stumpf and Carrie ...

www.fox13memphis.com [cached]

Both Stumpf and Carrie Tolstedt, the executive in charge of Wells Fargo's retail banking division, lost their 2016 bonuses and had tens of millions of dollars in promised compensation clawed back.


Not only was the Wells Fargo ...

www.lenderliabilitylawyer.com [cached]

Not only was the Wells Fargo senior vice president, Carrie Tolstedt, in charge of this debacle allowed to resign with over $120 in severance, she was given a $5.5 million bonusafter the bank learned that the feds were investigating the bogus accounts.


The Wells executive in charge of ...

mandelman.ml-implode.com [cached]

The Wells executive in charge of this insanity is Carrie Tolstedt. he's worked at Wells Fargo for 27 years.

In July, Wells Fargo's CEO John Stumpf, announced that Ms. Tolstedt would be retiring.
...
"It is quite clear that the actions of Tolstedt's unit are unfair and abusive practices under federal law.
...
The story continued with a few more facts that show what may have motivated Ms. Tolstedt to make the transition from traditional banking… to a life spent robbing customers.
"… Tolstedt ran the community banking division of the bank, which included its retail banking and credit card divisions, during the entire period in which the customer abuse was alleged, which goes back to 2011."
"Tolstedt was regularly praised for her unit's ability to get customers to open numerous accounts."
" For a number of years, Wells Fargo's proxy statement, which details executive pay, cited high "cross-selling ratios" as a reason that Tolstedt had earned her roughly $9 million in annual pay."
"… in Wells Fargo's 2015 proxy statement, the company said that its compensation committee had authorized Tolstedt's $7.3 million stock and cash bonus that year, because "under her leadership, Community Banking achieved a number of strategic objectives, including continued strong cross-sell ratios, record deposit levels, and continued success of mobile banking initiatives."
...
"When Tolstedt leaves Wells Fargo later this year, on top of the $1.7 million in salary she has received over the past few years, she will be walking away with $124.6 million in stock, options, and restricted Wells Fargo shares."
...
Ms. Tolstedt didn't do anything she shouldn't have done, in fact, she did exactly what she was supposed to do, how's that?
...
So, how could Ms. Tolstedt have done something like this?You're kidding me, right?What did she do wrong?She made millions a year and retired with $124.6 million. hat's not just money… that's like movie star type money… generational wealth, as they call it.
And she's not going to jail… she's not even going to get a stern talking to. he's retiring "later this year."
LATER THIS YEAR?What would you like to bet that if a teller at a Wells Fargo branch gets caught stealing $20 out of his or her cash drawer, the police are called to take a report and Wells Fargo Security Officers escort the employee out of the building within an hour.
Ms. Tolstedt's "sandbagging" operation got busted by the LA Attorney's Office and the CFPB… the bank has to pay a $185 million fine as a result… and Tolstedt is retiring later this year.
And you're going to tell me that she SHOULDN'T have done what she did?Like hell, she shouldn't.
images-7
How would you like to be some other Wells Fargo executive who didn't commit any sort of fraud before retiring with maybe a million in a 401(k) or whatever?You'd be thinking about cutting your wrists after reading about Ms. Tolstedt's performance, wouldn't you?


CEO Stumpf will forfeit ...

www.hansenfg.com [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


Carrie ...

speakerpedia.com [cached]

Carrie Tolstedt Senior EVP of Community Banking at Wells Fargo

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