Finally a good story out of Wells Fargo
AL DÍA’s Editorial Series on “Top Corporate Executive Series” features this week Senior Vice President Anthony Rosado, an exceptionally good story out of Wells Fargo.
Wells Fargo, the fourth largest bank in the country with a history of 167 years, is today “like a rudderless ship lost at sea,” according to a recent report published by CNN Money.
The graphic description gives an idea of the state of affairs at a bank that hasn’t been able to shake off the huge cloud hanging over the institution’s reputation, tainted over and over again during the past several years by major failures of leadership— well publicized by national media and documented during long hearings at the U.S. Congress.
The crisis has forced the departure of two CEOs in less than three years, has generated millions of dollars in fines from federal regulators, hefty expenses to cover costs of litigation in the courts, and a shattered customer trust that is impossible to measure.
The CEO of JP Morgan, Mr. Jamie Dimon, couldn’t help but comment on the matter confronting this other major player in Wall Street: "It's not responsible for a company to have a CEO leave with no plan in place,” he said of the recent departure of Wells Fargo CEO Tim Sloan.
“It's not the way to run the railroad,” said Dimon.
The railroad, however, needs to continue operating, and, consequently, the need of new blood and new and competent leadership is more acute today than ever in the otherwise respected financial institution with thousands of customers in the Philadelphia region.
That is why it is refreshing to see faces like the one AL DÍA is highlighting on the cover of this edition, as part of our Top Corporate Executive Series.
He happens to be a Wells Fargo Senior Vice President, Mr. Anthony Rosado, whose story as one of the most promising leaders in the bank you will find in pages 10 to 15.