Retiring? Yeah, right.
29 replies (most recent on top)
@zrb, you are surprised she hung in there for as long as she did? What? Four years is just so long to make millions doing nothing. Buy a clue.
She’s an id--t and did nothing to materially improve risk management. No real progress in closing the multiple consent orders, asset cap still in place, hired a bunch of highly compensated CROs that are duplicative, …. we won’t miss her a bit. What Charlie should have said - We should all feel really proud that we can’t manage risk worth a d*mn, but we’ve spent a significant amount of time focused on diversity and inclusion…and that is what truly matters.
@1nce, you are really not too bright. She came; she did nothing; she made millions; she left. There is nothing more to this than that.
Age 55 plus 10 years of work only means you are eligible for retirement health benefits. I’m sure MN has plenty of money to find other ways to pay for her health insurance, and she can choose to “retire” without retiree health coverage. Could even choose to come back out of retirement in 5 years if she so chooses.
The age 55 but doesn’t yet have 10 years of service idea likely had nothing to do with her decision, and in no way means that she was forced out. Per media reports, in her own communication, she mentioned the pandemic made her realize she wants to spend time on some personal things.
You can retire anytime you like! People are stuck on semantics here. She is retiring, period. As in not working. Whether she qualifies for WFC retirement ‘benefits’ is a different discussion.
@1nce I agree, Per the handbook, you can retire at 55 IF you’ve had 10 years of service (in lieu of the 80 pts) so it does not make sense. I’m guessing forced out and this was the compromise-call it retirement and waive the extra 5 yrs to get rid of her. Seems like Charlie has a friend that would love to get his mits on risk. I would be scared if I were in risk right now. He is probably gonna hire a Chase flunky really fast and they will start swinging the ax for him.
Her retirement makes no sense. At WFC in order to qualify for retirement, your age and years of service MUST equal 80. She is 54 years old add the 4 or 5 years of service. It doesn’t add up.
We can hope SVB will go away along with MN.
I wonder how many millions she has earned for her „service“ and how many stock options still vest while she officially „retires“….sickening that she is set for life while causing so much havoc for the rest of us with that mess of a matrix reporting structure in Risk, hubs, and all that other nonsense . I am a Democrat but I have just about had enough of all that DEI nonsense being forced down in the workplace . My se-ual orientation is private and I resent being asked this information on Workplace . There, I have had my rant and I do feel better now :)
Mandy did nothing tangibly to fix wf. Good riddance
I’m not sure hubs were Mandy’s creation, but I’ve heard that she and a bunch of other leaders (Roemer for one) read the “Culture Code” book and decided that was the way Wells Fargo needed to be run. They all drank the kool-aid and decided for us that we all will work better together in person. This has been going on for years and Mandy was a big part of promoting it and towing the line.
Look through the summary of the book on Amazon and you’ll find some familiar phrases, such as “why do certain groups add up to more than the sum of their parts?” (classic Roemer statement trying to explain why 2 people in the office add up to 3 and 2 remote people add up to 1 - sound familiar?).
I wish they would all read something a little more relevant to current times, or God forbid, ask their employees to reflect on how they work best.
I bet my money on this replacement https://www.jpmorganchase.com/about/our-leadership/ashley-bacon
https://www.bloomberg.com/news/articles/2022-01-04/wells-fargo-risk-chief-norton-to-leave-after-four-years-at-bank
Time for B Daley to hit the bricks. But he is Charlie's ace in the ho-e for cover if Charlie wants to bail on short terms and suggest a "qualified temp" replacement. Common Charlie, you brought on a JP Mo guy who is over 70 and pushing 100. Stop the charade already.
HUBs were her creation? Saul has been preaching the HUB Strategy for almost 3 years. Hard to think it goes away with her.
This bank spends 3-4X what other big banks do on their Risk Departments. It's overloaded with headcount getting paid 2X what they would get paid elsewhere. Mandy even farmed her job out to 4 CRO's who did her job for her. If you're not taking care of business it doesn't matter if your a le----n you're not special, at that level the only thing that matters is results.
Maybe if someone would have labeled theirs as the OFFICIAL thread, we wouldn’t have duplicates.
Is tech affected?
Who wants to be Chief Risk Officer for Wells Fargo? It’s like being head of the Anti-Gambling department at Caesars Casinos.
WFC doesn’t want to spend the money, they don’t want to cut into profits, they want to solve decades worth of fraud and executive ineptitude while cutting staff, and The Boys Club is impenetrable.
I don’t know her, but I’m surprised she hung in there as long as she did.
Nothing like three different threads to discuss the same topic. Could the OP not be bothered to see if this was already being discussed? JFC
So if i post something for multiple years and then it finally happens that is a prediction?
Ok, Saul will be gone.
Time to buy some WF stock, nothing like King Charlie doing a little house cleaning of poor performers.
Although this forum is filled with cr-p majority of the time, there are some good posts out there. Mandy being out was a prediction throughout 2020 and 2021 and it has finally happened.
Just wanted to say thank you to the honest folks who post relevant information for employees like us to make logical decision and plan accordingly weather it is personal or professional.
now CS can get a while male over 50 croney from JP Morgan to take over...
I have heard she was the one pushing for the HUB location B.S., so hoping that goes with her.
Oh finally. Been calling that for the last 18 months. Pray for the poor souls who replaces her.
yea SIX months from now... like why bother telling us, we don't care.
You didn't buy it either?
DING DO-G the witch is gone.