Newspaper article St Louis Post-Dispatch (MO)

Wells Fargo Fires 4 Senior Managers in Sales Scandal Inquiry

Newspaper article St Louis Post-Dispatch (MO)

Wells Fargo Fires 4 Senior Managers in Sales Scandal Inquiry

Article excerpt

NEW YORK * Wells Fargo's board of directors fired four senior managers as part of its investigation into the bank's sales practices scandal.

Tuesday's announcement is the first public firing of managers and executives since Wells acknowledged in September that its employees opened up to 2 million bank and credit card accounts without customer authorization in order to meet lofty sales goals.

When the scandal first broke, Wells said it had fired roughly 5,300 employees as a result of the scandal, the vast majority of them lower-level workers.

The four executives terminated were Claudia Anderson, the former community bank chief risk officer; Pamela Conboy, the lead regional president in Arizona; Shelly Freeman, the former regional president in Los Angeles; and Matthew Raphaelson, head of the community bank's strategy and initiatives. …

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