Timothy J. Sloan

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Timothy J. Sloan
TimothySloan.jpg
Occupation Former Chief Executive Officer
Employer Wells Fargo & Co.
Location Los Angeles
Website www.wellsfargo.com

Timothy J. Sloan is the former chief executive officer of Wells Fargo & Co.[1] He stepped down from that role on March 28, 2019.

Previously, he was the president and chief administrative officer, managing corporate communications, corporate social responsibility, enterprise marketing, government relations, corporate human resources, and strategic planning. [2] He also served on the Wells Fargo operating and management committees.

Sloan was promoted to CEO in October 2016, when John Stumpf stepped down after the revelation that company employees had opened millions of fake accounts to meet sales goals. Sloan overhauled the incentive system and traveled the country to meet with staff. He also apologized publicly and launched a rehabilitation campaign. Nevertheless, the company's reputation continued to be diminished by additional problems in other divisions, and criticism of the company continued.[3]

Background

Earlier, Sloan was head of Commercial Bank, Real Estate and Specialized Financial Services, overseeing operations within wholesale banking that provided credit and customers worldwide. Altogether, Sloan’s teams included more than 25 lines of business, more than $200 billion in assets and 440 offices in 40 states, Asia, Canada and London.

He was the group head of specialized financial services from 1997 to 2006. From 1994 to 1997, he was executive vice president and division manager of the real estate merchant banking division within the capital markets group. Before that, Sloan was group head of the real estate managed assets group, which he started as a senior credit officer in 1991.

Before joining Wells Fargo as a vice president with the loan adjustment group in 1987, he worked for three years at Continental Illinois Bank in Chicago.

Education

Sloan earned his B.A. in economics and history and his M.B.A. in finance and accounting, both from the University of Michigan in Ann Arbor.

References

  1. Wells Fargo Names Tim Sloan Chief Administrative Officer. Wells Fargo & Co..
  2. Timothy J. Sloan Bio. Wells Fargo & Co..
  3. Wells Fargo CEO Tim Sloan Steps Down as General Counsel Takes Over. Bloomberg.