Wells Fargo’s Sloan Seen Poised for CEO Job in Shuffle
This article is for subscribers only.
Wells Fargo & Co.’s management shuffle, in which Chief Financial Officer Timothy Sloan becomes the head of wholesale banking, is a move analysts view as grooming for the bank’s top job.
The lender also named John Shrewsberry to replace Sloan, 53, as CFO on May 15 and report to Chief Executive Officer John Stumpf, the San Francisco-based bank said yesterday in a statement. Sloan takes over wholesale banking from David Hoyt, 58, who will retire after 32 years at the company.