Wells Fargo Arms Branch Workers With Tablets Instead of Scripts
- Retail bank chief Mack lays out new customer-service strategy
- Sales goals are out, as tellers are told to listen to clients
Wells Fargo & Co. is changing the way it approaches the banking experience in the wake of a banking scandal that impacted employees and customers. Bloomberg's Laura Keller reports on 'Bloomberg Markets: European Close.' (Source: Bloomberg)
How do you restore profits after a banking scandal that victimized both customers and employees -- without inflicting more pain on either side?
Mary Mack, head of Wells Fargo & Co.’s branch network, just spent the better part of her summer traveling the country and enacting a strategy she hopes will do just that. She has eliminated dozens of executive roles and closed 88 branches in the year’s first half, but managed to cut fewer than 10 front-line staff in the process. Aggressive sales quotas and scripts for pitching products also are out -- vestiges of a culture that caused too much trouble.