Wells Fargo said it is separating its consumer lending business from consumer banking, part of a structural overhaul by the bank's new CEO
Wells Fargo & Co. is overhauling its reporting lines, Chief Executive Charles Scharf’s first move to stamp out the corporate structure implicated in its fake-account scandal.
The bank said on Tuesday that it plans to split its three business units into five. What had been known as the wholesale bank will be split into a commercial bank that provides back-end services for companies, as well as a separate investment bank that focuses on capital markets.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | U.S. District Judge Expected to Rule in Favor of Sprint-T-Mobile MergerBreaking: A judge is expected to rule in favor of T-Mobile and Sprint in the antitrust fight over their proposed merger, people familiar with the matter say
Read more »
WSJ News Exclusive | A Massive Full-Floor Penthouse in Fort Lauderdale Lists for $35 MillionAn under-construction penthouse in the Four Seasons Private Residences Fort Lauderdale, is listing for $35 million—or roughly four times more than the prior record for a condominium
Read more »
WSJ News Exclusive | Federal Judge Expected to Clear Way for T-Mobile and Sprint MergerA federal judge is expected to approve T-Mobile US’s merger with Sprint, according to people familiar with the matter, clearing the way for the two wireless rivals to combine and overcoming a state antitrust challenge.
Read more »