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Wells Fargo’s Sloan Avoids Spiders, Octopuses in Rise to CFO

Timothy J. Sloan’s rise to chief financial officer at Wells Fargo & Co. may have been cemented by what he didn’t do, not just what he did.

“Our business is really pretty simple,” Sloan, 50, said in an interview last week at the bank’s San Francisco headquarters. “When you look at the deal and its structure looks like an octopus or a spider, just don’t do it. That kept us out of a lot of things.”