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Wells Fargo’s Stars Thrived While 5,000 Workers Got Fired

  • Manager’s team said to order unwanted cards for Wachovia staff
  • Leaders ‘intently focused’ on restoring trust after CEO’s exit
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Wells Fargo Account Scandal: Who Knew What, When?

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After Wells Fargo & Co. executive John Sotoodeh handed off more than a hundred branches in Southern California to a colleague in 2009, problems surfaced quickly.

His successor, Kim Young, addressing rumors that some employees were opening bogus accounts, called an introductory meeting with staff and warned she wouldn’t tolerate misconduct. Within a few days, managers recall, sales crumbled across her new turf.