"Everyone thinks that I'm this tough, tough person ... but it's been so long in the making, it's impacted so many people so negatively," Scharf said. "All of a sudden, it's like it's all been worth it and everyone's feeling it."
https://www.reuters.com/business/finance/wells-fargo-ceo-goes-fixer-builder-regulators-lift-punishments-2025-06-04/
"In an effort to transform its culture, he also reworked the company's performance review process to boost accountability"
Best part about this is that if Shart was a regular employee, he would get an inconsistently meets rating for the Bilt card disaster alone, and then LOB HR would push to have him "managed out" of his job the following year. HY types can make massive mistakes and it's all good. The rest of us, stub your toe and your rating is crushed and it's the beginning of the end.
No credit to head of Risk?
No worries - you will get some BIG money in June 2028 after your 27 shares of stock skyrockets in value as a thank you for 7+ years of work! (Yes that is sarcasm)
“In an effort to transform its culture, he also reworked the company's performance review process to boost accountability.”
Also known as Stacked Rank and Yank.
Can you read between the lines ?
HEADCOUNT
"We're adding bankers, sales people, relationship managers in the commercial bank, technology resources. We're just funding it through efficiencies that we're getting elsewhere. There's significant opportunities to become more efficient."
Nah, it wasn't Charlie's win. He just got lucky with the current administration.
All my friends that got fired after definitely feeling it. What a tu-d.