Last Updated on August 7, 2022 by Administrator
Timothy J. Sloan Biography
Timothy J. Sloan is an American banker. He was the chief executive officer (CEO) of Wells Fargo from October 2016 and retired on March 28, 2019. He had previously served as a chief operating officer (COO) and chief financial officer (CFO).
Mr. Timothy J. Sloan, also known as Tim, has been the Chief Executive Officer of Wells Fargo & Company since October 12, 2016, and as its President since November 17, 2015. He serves as President at WFC Holdings Corporation. Mr. Sloan served as the Chief Operating Officer at Wells Fargo & Company from November 17, 2015, to October 12, 2016. He served as the Head of Wholesale Banking and Senior Executive Vice President of Wholesale Banking at Wells Fargo & Company from
Timothy J. Sloan Age
Timothy J. Sloan was born on 1959/1960
Timothy J. Sloan Personal life
Sloan is married, with three adult children, and lives in San Marino, a suburb of Los Angeles.
Timothy J. Sloan Career
Sloan worked as a bank teller at Standard Federal Savings and Loan Association in Ann Arbor, during the summer holidays while a student. In 1984, he joined Continental Illinois National Bank and Trust. In 1987, he joined Wells Fargo, rising to COO and president in November 2015.
Timothy J. Sloan Image | Photo
Timothy J. Sloan Education
Sloan earned his B.A. in economics and history and his M.B.A. in finance and accounting, both from the University of Michigan–Ann Arbor.
Timothy J. Sloan Net Worth And Salary
The estimated Net Worth of Timothy J Sloan is at least $75.8 Million dollars as of 5 March 2019. Mr. Sloan owns over 357,603 units of Wells Fargo stock worth over $58,199,288 and over the last 3 years, he sold WFC stock worth over $0. In addition, he makes $17,564,000 as President, Chief Executive Officer, and Director at Wells Fargo.
WHAT IS THE SALARY OF TIMOTHY J SLOAN?
As the President, Chief Executive Officer, and Director of Wells Fargo, the total compensation of Timothy Sloan at Wells Fargo is $17,564,000. There are no executives at Wells Fargo getting paid more.
Timothy J. Sloan House
Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, California, with central offices throughout the United States. It is the world’s fourth-largest bank by market capitalization and the third largest bank in the US by total assets. Wells Fargo is ranked #26 on the 2018 Fortune 500 rankings of the largest US corporations by total revenue. In July 2015, Wells Fargo became the world’s largest bank by market capitalization, edging past ICBC, before slipping behind JPMorgan Chase in September 2016, in the wake of a scandal involving the creation of over 2 million fake bank accounts by Wells Fargo employees. Wells Fargo fell behind Bank of America to third by bank deposits in 2017 and behind Citigroup to fourth by total assets in 2018.
The firm’s primary operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota. Wells Fargo in its present form is a result of a merger between San Francisco–based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte-based Wachovia. Following the mergers, the company transferred its headquarters to Wells Fargo’s headquarters in San Francisco and merged its operating subsidiary with Wells Fargo’s operating subsidiary in Sioux Falls. Along with JPMorgan Chase, Bank of America, and Citigroup, Wells Fargo is one of the “Big Four Banks” of the United States. As of June 2018, it had 8,050 branches and 13,000 ATMs. In 2018 the company had operations in 35 countries with over 70 million customers globally.
In February 2014, Wells Fargo was named the world’s most valuable bank brand for the second consecutive year in The Banker and Brand Finance study of the top 500 banking brands. In 2016, Wells Fargo ranked 7th on the Forbes Magazine Global 2000 list of largest public companies in the world and ranked 27th on the Fortune 500 list of the largest companies in the US. In 2015, the company was ranked the 22nd most admired company in the world, and the 7th most respected company in the world. As of December 2018, the company had a Standard & Poor’s credit rating of A− However, for a brief period in 2007, the company was the only AAA‑rated bank, reflecting the highest credit rating from two firms.
On February 2, 2018, the US Federal Reserve Bank barred Wells Fargo from growing its nearly US$2 trillion-asset base any further, based upon years of misconduct, until Wells Fargo fixes its internal problems to the satisfaction of the Federal Reserve. In April 2018, The Wall Street Journal reported that the US Department of Labor had launched a probe into whether Wells Fargo was pushing its customers into more expensive retirement plans as well as into retirement funds managed by Wells Fargo itself. Subsequently, in May 2018, The Wall Street Journal reported that Wells Fargo’s business banking group had improperly altered documents about business clients in 2017 and early 2018. In June 2018, Wells Fargo began retreating from retail banking in the Midwestern United States by announcing the sale of all its physical bank branch locations in Indiana, Michigan, and Ohio to Flagstar Bank.