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Can a small-town Virginia banker fix Wells Fargo's board?

Reuters 

By Dan Freed(Reuters) - Wells Fargo & Co will likely turn to a former community banker and Fed official to head its board as the scandal-ridden bank tries to restore its former reputation as a solid, plain-vanilla lender, people familiar with the matter told Reuters. Betsy Duke, who only joined the board of the third-largest U.S. lender in 2015, will be promoted as Wells tries to repair damage caused by widespread sales abuses against customers. Shareholders gave the board a very thin endorsement at the bank's annual meeting in the spring, and Duke is likely to become the next chairwoman, ...

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First Published: Fri, August 11 2017. 08:44 IST
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