Asset Cap will be removed in 1H 25. So much fat, start looking now.
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Whoever have made this post became true
“ Risk is the most bloated, inefficient and incompetent function in Wells Fargo. ” says the person who has never sat in on an EBCE witch hunt.
And to the other poster who said stock price will go up I ask the question have you not seen the 20% increase in the last two months?
@1nfl+1vGSbwcy You are missing the point - we have more than 11 thousand people plus more offshore in risk focused on setting develop you courses and other similar low impact initiatives while turning a blind eye to actual risks in the bank. So when the regulator digs in, like they just did in CIB, the CRO finds need to pursue greener pastures and look for higher purpose in life.
Guys... don't be so hard on risk. They all made the BEST policy manual ever. I wonder how many of you have read it.
And the bank continues to be unethical. Thinking that having all of us take those develop-you courses will make management stop sc--wing the clients is fanciful.
Risk is the most bloated, inefficient and incompetent function in Wells Fargo. They have never had a proper restructure. Risk is not working to lift asset cap. People in risk are open about it when you speak to them informally. Why would turkeys pray for ….
If WF is serious about improving its culture, organisation and risk practices, CRO and his management has to go. They are the problem not the solution.
Risk groups should have been reduced a long time ago. It makes no sense to have 5 to 10 risk team members involved in RCSA repeating the same thing over and over again.
RCSA is still going to be a thing even if the asset cap gets lifted, right?
With so many overlapping risk groups doing redundant work, I am sure there is plenty of fat that could be cut, but I am less sure if upper management will have the ability to identify where to trim, especially if RCSA continues
If the Asset Cap is lifted, doesn't that mean new business and hiring in different areas?
Dems and Reps need a common @ss to kick, so big nope.
You wish, OP
lol no
Cap won't be removed
makes sense, but one thing for sure the stock will get a lift from removing the cap. the political winds are in favor of that happening sooner than later
Skeptical about the cap being lifted, but hey, who knows.