Mr. Scharf owns over 119,279 units of Wells Fargo & Co stock worth over $6,353,383 and over the last 13 years he sold WFC stock worth over $247,675. 11/29/1839 in Freiburg, Germany. Full name – Charles W. Scharf We all have a soulmate somewhere out there. Education – John Hopkins University (B.A. In March, the board appointed C. Allen Parker interim CEO and president and a member of the board. He was met with almost as much public scrutiny as Lumpf. Most stock quote data provided by BATS. The most active insiders traders include Stephen W Sanger, Richard B Jr Payne, and Charles W Scharf. He makes clear that both of his parent’s lives revolved around two things: family & work. Scharf met Dimon well before he sat in the driver’s seat of the American banking industry. Scharf was an avid boy from his childhood and wanted to be someone big in life. As of 21 October 2020 he still owns at least 296,195 units of Wells Fargo & Co stock. The estimated Net Worth of Charles W Scharf is at least $40.9 Million dollars as of 21 October 2020. He served as Visa's CEO for four years until December 2016, when he. 03/05/1882 Emilie Mary b. There’s really no better way to learn than in that kind of environment, I consider myself lucky just to be able to participate in the growing of the company [Commercial Credit Corp].”. “I also want to thank our search committee for conducting a thorough process that was comprehensive in its diligence and reach. Previously, he worked at Visa Inc. as the company’s chief executive officer. Wells Fargo is based out of San Francisco, just like Visa is. Acknowledging the improbability that hiring from within would manifest any progress, Wells Fargo made publicly clear that their next CEO would come from outside the company. Married – yes After leaving visas, he was awarded compensation of 24.2 million dollars. Wells Fargo posted the following press release on September 27, 2019: SAN FRANCISCO–(BUSINESS WIRE)–The Board of Directors of Wells Fargo & Company (NYSE: WFC) announced today that it has named Charles W. Scharf as the company’s chief executive officer and president, and a member of the Board of Directors, effective October 21. Over the last 4 years, insiders at Wells Fargo & Co have traded over $37,201,724 worth of Wells Fargo & Co stock and bought 213,100 units worth $6,512,779 There are 17 older and 5 younger executives at Wells Fargo & Co. The Other segment refers to the products of WIM customers served through community banking distribution channels. Describing working in his dad’s back office, Scharf says: I was 13 years old, it was a summer job. In 2013, the company was added to the Dow Jones Industrial Average, and in mid-2016 it completed the acquisition of its Visa Europe joint venture, simplifying the company’s corporate structure.”, When deciding to walk away from Visa due to the difficulty of travel from New York, where his family lived, and San Francisco, where the company was headquartered, Scharf made the following public statement: “I love working and running this great global company and I am sad to have reached the conclusion that I should step down, but running a San Francisco based company just doesn’t work for me personally right now and wouldn’t be fair to Visa.”, He added, “It has been an incredible privilege and honor to work with my many colleagues who have contributed so significantly to our success and transformation, and have strengthened our position as the leading global payments provider. Charles Scharf explaining giving up the top job at Visa “Being six hours away just wasn’t the right thing for one of our family members quite frankly,” Scharf said, referring to himself, on a podcast with David Novak of oGoLead. Nationality – American Within a week, Scharf was in Baltimore working on the Commercial Credit turnaround, although, in the beginning, he wasn’t working with Jamie Dimon directly. They hadn’t hired anybody in a while, especially not somebody so young and new to the industry. “On behalf of the Board of Directors, I wish to thank Allen for his exemplary leadership during this transition. Such men include Jamie Dimon, Sandy Weill, and Bob Lipp. He was born on April 24, 1965, and from the USA, he is 55 years old as of 2020. Leading them to conclude, “Unless further action is taken by Wells Fargo’s board, Stumpf will leave with a fortune made up of stocks, cash payouts and other compensation that he amassed during three decades at Wells Fargo and its predecessor company.”. Jamie Dimon worked for Sandy Weill and was chosen to take over the small Baltimore financial firm Commercial Credit Corp, which Weill had recently purchased. Sloan hung in there for about two and a half years before resigning in late March of 2019. In 2000, he was CFO of Bank One, and in 2002, he led the bank’s consumer banking business, helping rebuild the brand and banking staff and expanding the branch and ATM network.”. 1 U.S. bank. "We see this as a relatively safe pick from a political perspective," Jaret Seiberg, analyst at Cowen Washington Research Group, wrote in a note to clients. https://www.cnn.com/2019/09/27/business/wells-fargo-ceo-charles-scharf Rather, the year was 1987 and Dimon had the responsibility of turning around a failing financial firm called Commercial Credit Corp.