Wall Street’s Glass Ceiling Stays Intact After Wells Fargo Hire
- No woman has ever held the CEO job at major U.S. bank
- Firm considered female candidates in six-month search
Charles Scharf speaks during the Milken Institute Global Conference on April 30, 2019.
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
As Wells Fargo & Co. embarked on a search for a new chief executive officer this year, it had the rare opportunity to make history -- and perhaps appease its lawmaker critics -- by appointing the first-ever woman to lead a major U.S. bank.
Instead, the scandal-plagued lender opted for previous CEO experience in picking industry veteran Charlie Scharf.