That statement had been made in response to The Post’s exclusive report that board members of the bank had reached out to another Goldman alum - former White House economic adviser Gary Cohn. Randolph reiterated a statement from Wells chairwoman Betsy Duke in September, saying “CEO Tim Sloan has the unanimous support of the board, and this support has never wavered.” “There’s no validity to any rumors that Wells Fargo is in talks with anyone,” said Arati Randolph, a spokeswoman for the bank, declining to comment specifically about Schwartz. Neither Schwartz nor Salame could immediately be reached for comment on Thursday. Schwartz’s non-compete agreement with Goldman Sachs recently lapsed, and he is free to pursue other jobs, according to a source familiar with the situation. Schwartz also is thinking about starting a family investment office with Pablo Salame, the former co-head of Goldman Sachs’ securities division who also left last year after Solomon took the helm, according to the source. “The issue is that he does not want to move to Charlotte or San Francisco,” one source said, noting that Wells Fargo’s East Coast headquarters is in Charlotte, North Carolina. Nevertheless, it’s not clear whether Schwartz will take the helm of the San Francisco-based bank. The 53-year-old banker is up against one other serious contender for the top job whose identity couldn’t immediately be learned, according to one source close to the situation. Schwartz - who last year lost a race against David Solomon to succeed Lloyd Blankfein as Goldman’s CEO - is in discussions with the nation’s third-biggest bank to take the reins from Tim Sloan, according to two people briefed on the talks. Members of Wells Fargo’s board are in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs, to take over as the bank’s next chief executive, The Post has learned. Wells Fargo staged sham job interviews for black, female candidates: report SEC fines Wells Fargo $7M for anti-money laundering lapses Wells Fargo’s hiring practices under criminal investigation: report Fundamental company data provided by Morningstar, updated daily.Fourth of July food costs up 11% due to inflation: Wells Fargo Stock quotes provided by InterActive Data. The gurus listed in this website are not affiliated with, LLC. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Past performance is a poor indicator of future performance. In no event shall be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on, or relating to the use of, or inability to use, or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. ![]() Gurus may be added or dropped from the GuruFocus site at any time. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Under no circumstances does any information posted on represent a recommendation to buy or sell a security. This investment adviser does not provide advice to individual investors. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. is not operated by a broker or a dealer.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |