Mass email just hit inboxes.
48 replies (most recent on top)
Is it last week again?
And now early December Ravi has “found an opportunity” outside WF.
It's not that KL was so great; he just wasn't so blatantly bad. SVB has zero credibility and faces tough job suckering someone else into that slot. Also KL was not from Chase, so now we can get a Chase flunky to replace KL. SVB is Chuckie's lap dog. Chuckie is lame duck.
Remove SVB!
They need to get rid of SVB.
Count 1 - hiring unqualified friends
Count 2 - Removing qualified incumbents
Count 3 - Ignoring eligible insiders
Count 4 - Proposing to add even more friends
Count 5 - Threatening to leave when challenged
Guilty as charged . Sufficient evidence presented .
Post ID: @1fcv+1cZjtY0B Hilarious. If showing character is acting improperly (by any standard) and getting fired for it, sure.
The difference was over bringing more “infosec” people (euphemism for more farma friends) versus people from the industry. Common sense prevailed and the real boss said enough is enough. Game over.
When will the BOD wake up and see problem is SVB. 3 CISOs in 3 years? That is a leadership problem. Oh, and add one more; where will you find a replacement that would want to step into this circus?
Kurt had been at bank for 18 months, but only named CISO in April 2021
It means he lasted less than 5 months.
Good lord.
something to think about -
Data breach costs rose from USD 3.86 million to USD 4.24 million, the highest average total cost in the 17-year history of this report. Remote work due to COVID has introduced more risks than ever to businesses operating in a telecommuting operating model.
With this in mind, the infosec team has a revolving door - this speaks volumes about the banks:
a) risk appetite
b) risk containment
c) risk mitigation
d) ability to manage a security posture
This bank is probably less than 6 months away from a major customer data security breach.
And given the tone in Washington about breaking up the bank, that would be the end of Wells Fargo as we know it - and likely, a run on the bank.
It will be Wachovia 2.0.
Have a great weekend everyone!
Thamk you Kurt, if ypu are reading this.
Someone needs to stand up for whats right.
Resistance to stupid leadership decisions requires strength of character and you showed it.
@1ztf+1cZjtY0B what a pathetic attempt to save the image of your former boss. You guys have no shame . KL was the first to return to an office . He was the biggest proponent of RTO. Why would we pick up a fight with his boss over something they both agreed on ?
He was not on board with RTO. Lead to heated discussion with SVB. Terminated as a result.
RTO approach isn’t.l focused on employees. They pretend it is.
What was this heated discussion?
@1egb Most definitely! I completely disagree with these moves and I’m not anywhere near those areas of the enterprise. They are focused on cutting costs but will do they think will happen if we’re hacked on a major scale? It will be another PR nightmare. Besides that, it’s unAmerican!
Saul van beurden is inexplicably focused on offshore, off prem, and third party solutions. Given KL’s job function, I speculate KL has some insurmountable security concerns about those factors. WF. An institution that handles so much money. Puts its trust in external cloud solutions with a history of getting hacked and moves it’s tech base to a country legendary for it
It was a heated discussion with SB that happened late last week and KL quit on the spot. Unsure of the topic.
recognizing it.
You arent inquiring, you are assigning it.
How is it racist to inquire about gender bias?
Not really, its just what else can you say.
Btw, you soynd horribly racist always driving to an assumption of gender or racial bias.
I guess they found out he was White.
Notice how they're all quiet now that they know the replacement is a dude?
Do any of you "replaced by a female" mo--ns work here or know the leadership hierarchy? Ravi is a man.
Jesus this place has sunk lower than rock bottom.
Maybe he wasn't on board with the slow, deceitful dismantling of one of America's largest financial institutions.
No doubt some guy in India ripped off a ton of database info and sold it to Russians.
Well, rage quitting a bad employer would give them "no other choice".
Dont believe everything you read. Especially from a leadership team that couldnt run a baseball game for kids
difficult to have a conversation when so much trolling goes on.
Go look at the My Week blog from SVP. First line says , "Today we announced that Kurt Lieber is no longer with us, but we had no other choice.".
Very cryptic and screams there may be a legal or ethical situation.
Not good to go through 3 CISOs in less than 3 years
On Monday they announced he was on leave for an undetermined amount of time. Then this hits today? It was not a mutual departure.
My guess is that with Security related jobs, no matter what the reason is, you leave immediately to protect the customer and the brand. I wouldn’t read too much into the interval.
The guy just joined in April of this year. There had to be something serious for them to fire him -- or he saw the writing on the wall on how things are and "noped" right out.
and kind of odd how they put it under Ravi. You'd think they might put it on Lubert (CTO)
Very strange.
@wgx+1cZjtY0B KL was replaced by a female. What white male executive is next? A forum never goes by without diversity being a point of note.
what?? Lieber is an actually comptent CISO with plenty of experience. This is a loss for WF, but it makes sense that this mess of company would be losing the actual competent executives.
India has InfoSec now.
No need for expensive americans
Incorrect he was a former CISO and had been doing this work for a long time. Where do you people get your info?
KL was not a tech guy. WF did not do any diligence on that hire . The current lot who came in the last months from Pharmaetna are now gonna be running scared.
Kurt had to go, he was a white male. Push Diversity for Wells to stay strong.