carrie tolstedt net worth
Following the revelations last summer that thousands of Wells Fargo employees fraudulently opened as many as two million unauthorized accounts for customers, the bank released a report Monday detailing the findings of its boards investigation into the problems, and the consequences it imposed as a result. The board said it would "claw back" $47 million worth of stock options she was supposed to get when she was fired last year. See here for a complete list of exchanges and delays. 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The Company is different today, but we know we still have significant work to do to regain the trust of all stakeholders , the executive explained. On this Wikipedia the language links are at the top of the page across from the article title. stock. #N20-001 Create an alert to follow a developing story, keep current on a competitor, or monitor industry news. The same report recommended that the bank take back $47.3 million in stock options Tolstedt had received, in addition to $19 million they had already taken back from her. Additionally, the report primarily blamed Tolstedt for the company's misconduct in the scandal, while Stumpf was mainly blamed for not firing Tolstedt sooner. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. That outcome seems to have disproportionately fallen on women as a result of Wells Fargos fake account scandal: Besides Tolstedt, Wells Fargo also terminated four other executives for cause in February, three of whom were women, the board said in its report. Carrie L Tolstedt is the Sr. Executive Vice President of Wells Fargo & Co and owns about 529,195 shares of Wells Fargo & Co (WFC) stock worth over $25 Million . The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. ", Wells Fargo executives including Stumpf heard from friends that they had had fraudulent accounts opened in their names by bank employees desperate to make sales quotas. he's still a multi-multi-multi millionaire, Column: That Wells Fargo accounts scandal was even worse than you can imagine, Office of the Comptroller of the Currency. We must all dedicate ourselves to ensuring that such failings never again occur at Wells Fargo.. Stumpf's reputation took a beating in the wake of this scandal. Other key executives at Wells Fargo & Co include The Company is different today, but we know we still have significant work to do to regain the trust of all stakeholders , the executive explained. Tolstedt, meanwhile, is giving up $67 millionor almost twice the $36 million she took home over the same period. program . Carrie L Tolstedt's largest purchase order was 41,567 units , worth over [3], Toldstedt worked at Wells Fargo for 27 years. Former CEO Stumpf, who resigned in October, is referenced only 81 times. She's already been fined $25 million, but regulators were quick to point out that her fine could get larger. [7], On January 23, 2020, OCC regulators announced an additional $25-million fine against Tolstedt for her role during the fraud, an amount they state could rise higher. Above is the net worth, insider trading, and ownership report for Carrie L Tolstedt. . Consider that in 2014, around the middle of the roughly five-year period reviewed by the CFPB, Wells Fargo set a record in reporting net income of $23.1 billion, on revenue of $84.3 billion. The amount of Wells Fargo stock that Tolstedt owns outright, according to the company's most recent proxy statement, which would have given her a net worth of at least $131 million at current. Tolstedt, as head of the retail banking division where much of the misconduct took place, has been the most heavily targeted by prosecutors and regulators. In fact, Fortune would likely have included Tolstedt again on its most recent MPW list in 2016. In doing so, Wells Fargo has also apparently closed the coffin on the career of. Powered and implemented by Interactive Data Managed Solutions. All rights reserved. It has been restructuring and complying with regulatory reforms since the fake accounts scandal in 2016. It has also faced lawsuits and settlements relating to the fake accounts currently totaling almost $1.4 billion. In doing so, Wells Fargo has also apparently closed the coffin on the career of Carrie L. Tolstedt, who was prized as a superstar female leader before the bank fired her last year. The bank's internal report pinned much of . Past performance is a poor indicator of future performance. Tolstedt was raised in Kimball, Nebraska . U.S. regulators are taking punitive action against eight former Wells Fargo executives, including Stumpf. [1] Under Tolstedt's supervision, her unit's employees opened over 2 million mostly unauthorized accounts for their customers. Source: Vimbuzz.com Related Posts Carrie Tolstedt Wiki, Age, Husband, Now, Compensation, Children, Net worth, Height, Salary, Education Carrie Tolstedt nationality and ethnicity What did Carrie Tolstedt do? While a couple of Fortune MPW alumni have reclaimed their spots on the list after switching from one Fortune 500 company to another, Tolstedt, after being so vilified by Wells Fargo, seems destined for a legacy among the ranks of powerful women who have disappeared from corporate America for good. Carrie has the phone number (925) 820-0690 (Pacific Bell). Sr. Executive Vice President Kristy Fercho Factor in benefits and total compensation, Stumpf is giving up 40% of the $174 million he was set to collect from Wells Fargo before the clawbacks. Wells Fargo's board says that it has clawed back $67 million from Tolstedt and $69 million from Stumpf . of 57,398 shares. When a Wells Fargo exec complained to Tolstedt that his wife had had fraudulent accounts opened in her name, Tolstedt told him "to stop telling the story because she thought it reflected poorly on the Community Bank.". Carrie Tolstedt crime finance fraud impunity john stumpf Office of the Comptroller of the Currency wells fargo Man run over and killed while underneath a car, trying to steal a catalytic converter Wells Fargo retroactively fired Tolstedt in 2017 for a reason. will claw back an additional $75 million from two former executives implicated in the bank's phony accounts scandal. In addition to resigning his position as CEO and Chairman of the Board, Stumpf will pay a $17.5 million fine and will be banned from the banking industry for life. Big Banks Reap $32B Windfall From Trump Tax Cuts: Report. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. She was a top booster of the. Many of those questions were raised in a Fortune story Monday that wondered whether the situation was ripe for Wells Fargo to try to "claw back" some of the stock options it had awarded Tolstedt, who exits after years of heading Wells Fargo's huge community banking division. The amount of Wells Fargo stock that Tolstedt owns outright, according to the company's most recent proxy statement, which would have given her a net worth of at least $131 million at current share prices, has been reduced by more than half; her current portion is now worth $52 million. A Wells Fargo executive's departure with large stock and options holdings has sparked questions, after the division she ran incurred $185 million in penalties. Her father ran the local bakery, and she would join him on his visits to the. January 23, 2020 at 03:36 PM Marissa Mayer, the outgoing CEO of Yahoo (YHOO), fell off last years list after she was forced to sell her company to Verizon (VZ) when she could not execute an effective turnaround of its advertising business. Starting in 2012, the OCC says, the bank began monitoring the sales force for misconduct. ', "Less than two months later, the bank agreed to pay the largest penalty ever imposed by the Consumer Financial Protection Bureau $185 million for creating more than 2 million unauthorized customer accounts over five years. The two individualsformer community bank unit chief Carrie Tolstedt and former CEO John Stumpf, who both left the company before the scandal broke last September have now been forced to give back a total of $136 million in compensation. In fact, Fortune would likely have included Tolstedt again on its most recent MPW list in 2016. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Other recent insider transactions involving Wells Fargo & Co (WFC) include Insider trading is most common in April, with the busiest year in 2005. The case is SEC v. Tolstedt, No. Her bank fired some 5,300 employees for acting "counter to our values." The former CEO is losing $69 million, or 85%, out of the $81 million he made between 2013 and 2016. pursuant to 12 U.S.C. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. Ultimately, despite her plans to retire voluntarily, Wells Fargo decided in September that it would fire Tolstedt for cause, employing a harsh distinction rarely used in an industry that often lets even shamed executives walk away on their own terms. Sam Bankman-Fried hit delete instead. [2], In response to the report, Wells Fargo retroactively fired Tolstedt for cause and revoked $47.3 million that they had previously paid her. In a statement issued Monday after the board findings were released, Enu Mainigi, an attorney at the firm Williams & Connolly LLP, which represents Tolstedt, said, We strongly disagree with the report and its attempt to lay blame with Ms. Tolstedt. Carrie L Tolstedt made According to the SEC, Tolstedt profited in November 2014 when she sold more than $11.8 million worth of Wells Fargo stock. Who will be eaten first? The bank has paid billions in fines to a number of government agencies. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. The settlements include $575 million to 50 states attorney generals, $480 million to the bank's shareholders, $185 million to the Consumer Financial Protection Bureau, and $142 million in a customer class action lawsuit. Chief among them is Carrie Tolstedt, who as head of the Wells Fargo community bank division allegedly oversaw the conditions that led to the scandal. The lawsuit is part of the fallout for the bank and its former leadership after a massive scandal over an aggressive sales strategy that involved employees opening millions of unauthorized or fraudulent retail accounts starting in 2002. These days, more and more of READ THE REST. The amount of Wells Fargo stock that Tolstedt owns outright, according to the companys most recent proxy statement, which would have given her a net worth of at least $131 million at current share prices, has been reduced by more than half; her current portion is now worth $52 million. Tolstedt, of course, is not the only executive on Fortunes Most Powerful Women list to experience a sharp fall from grace. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Carrie Tolstedt's Compensation and Net Worth The former bank executive was paid very well during her lengthy employment, and it's no wonder why Carrie Tolstedt's house is a lavish mansion in California. Joe Raedle/Getty Images According to the bank, Stumpf and Tolstedt have contributed $69 million and $67 million respectively to that sum. What did Carrie tolstedt do? (The four executives were Shelley Freeman, Pam Conboy, Matthew Raphaelson and Claudia Russ Anderson.). Wells Fargo & Company/mn's most recent insider trade came on February 27, 2023 by The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The language Wells Fargos board uses to describe each leader makes this clear. All quotes delayed a minimum of 15 minutes. Explainer: Can Republicans topple Biden's ESG investing rule in court? Thats down 1,576 (or 10.4%)from Sept. 30, 2016, when the firm had 15,086 registered reps and began making headlines for the fake accounts. $11.82M on November 13, 2014. Carrie L Tolstedt is 1818(e) to Carrie Tolstedt and Claudia Russ Anderson; Orders to Cease and Desist pursuant to 12 U.S.C. Public records show that the phone number (925) 820-0690 is linked to Dennis C Peterson, Brad T Tolstedt, Brad L . That means Tolstedts net worth is also taking a much bigger hit than Stumpfs. The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Carrie L Tolstedt. Carrie L Tolstedt around $12 Million. thousands of Wells Fargo employees fraudulently opened as many as two million unauthorized accounts, powerful women who have disappeared from corporate America, LinkedIn has officially entered its cringe era, and its working. He has a net . Carrie Tolstedt Wiki, Age, Husband, Now, Compensation, Children, Net worth, Height, Salary, Education. The OCCs charges against Mr. Strother are false and unfounded, and he intends to vigorously defend against them.. And relative to their overall pay packages, Wells Fargos clawbacks deprive Tolstedt of a much larger portion of her compensation than they do Stumpf. The misconduct of these individuals allowed the practices to continue for years, affecting millions of bank customers and thousands of lower level bank employees, it said, adding that ex-community banking risk officer Claudia Russ Anderson made false and misleading statements to the OCC and actively obstructed the OCCs examinations of the banks sales practices.. a net Ex-US congressman 'abused trust' to trade before mergers, prosecutor says, Genentech sues Biogen for royalties on blockbuster MS drug, U.S. Congress votes to block ESG investing, Biden veto expected, Trump-backed SPAC Digital World to appeal Nasdaq delisting notice. Stumpf's fine isn't even the largest handed out. Offers may be subject to change without notice. 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. As The Wall Street Journal first observed, Tolstedts name is mentioned 142 times in the 113-page document. Stock quotes provided by InterActive Data. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. Carrie Tolstedt, who was a senior vice president before she left the bank in 2016, cited her right under the Fifth Amendment not to be a witness against herself more than 100 times in a response filed Friday to the agencys complaint. , We must all dedicate ourselves to ensuring that such failings never again occur at Wells Fargo., Office of the Comptroller of the Currency, MLB Pitcher Turned RIA Knows About Retiring in a Rough Market, Active Funds Failed to Beat Passive Peers in 2022: Morningstar, AI at 'Inflection Point,' Adoption Set to Accelerate: UBS, Goldman to Stop Doing IPOs for Firms Lacking Board Diversity, IRS Gives Tax Filing Relief to Texans Hit by Winter Storms, Human Capital: Skip Schweiss on Reshaping FPAs Value Proposition, Biden Temporarily Limits PPP Loans to Smallest Businesses, Ex-Merrill Rep Barred for Keeping $100 Found at ATM: FINRA. That stock normally takes a three-year period to vest fully. Bloomberg Surveillance, covering the latest news in finance, economics and investments. ", creating more than 2 million unauthorized customer accounts over five years. brought Former Wells Fargo Execs Fined $58.5M by OCC, Practice Management > Building Your Business, News The former CEO is losing $69 million, or 85%, out of the $81 million he made between 2013 and 2016. This article was originally published on FORTUNE.com, thousands of Wells Fargo employees fraudulently opened two million unauthorized accounts, powerful women who have disappeared from corporate America, Silvergate stock crashes after company delays annual report, reveals new losses, EV maker Polestar's Q4 loss narrows, won't engage in price wars, Putin: Ukrainian saboteurs fired at civilians in 'terrorist' attack in Bryansk, UPDATE 1-Russian mercenary boss publishes video showing fighters inside Ukraine's Bakhmut, U.S. home prices to fall 4.5% in 2023 despite higher rates: Reuters poll. In July, however, Tolstedt abruptly announced she would retire at the end of that year, disqualifying her from the list. In 2017, Wells Fargo retroactively fired Tolstedt for cause. Publisher - Just another WordPress site. The OCC didn't just penalize Stumpf: it has pending cases against most of Wells Fargo's C-suite during the relevant years, and it has published a 100-page report on its investigations, including first-person accounts from bank personnel who were pressured to commit fraud on penalty of losing their jobs and having their names fraudulently entered into an industry-wide blacklist of bank employees who had been caught committing illegal acts. Carrie L Tolstedt's largest purchase order was, Carrie L Tolstedt's largest sale order was, In total, Carrie L Tolstedt has made about, Wells Fargo & Company/mn's most recent insider trade came on February 27, 2023 by The estimated net worth of Carrie L Tolstedt is at least $23 Million dollars unlike her net worth her salary is not publicly known She now faces a $25 million penalty, but it could be increased, the OCC says. Hybrid work is failing to provide workers with two of the three things they want most, says a management expert, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Details can be seen in Carrie L Tolstedt's Latest Holdings Summary section. The economy and markets are "under surveillance". [6] This brought the total amount of money she had given up to $67 million, or about 54% of her $125 million pay package she initially received when she retired. The stock performance is charted as cumulative percent change in share price. But questions are now circulating about Carrie Tolstedt, the unit's leader, who's set to depart her post with $124.6 million in stock and options, and whose compensation for the five years targeted by the Consumer Financial Protection Bureau included a yearly incentive bonus of $5.5 million in stock, to go along with her base pay and other bonuses. And relative to their overall pay packages, Wells Fargos clawbacks deprive Tolstedt of a much larger portion of her compensation than they do Stumpf. Read about what we do with the data we gather in our Privacy Policy. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, [1] from which she retired in 2016 before the company's account fraud scandal came to light. Reach her at jody.godoy@thomsonreuters.com. Wells Fargo & Co (WFC) Ex-community bank head Carrie Tolstedt, who gave up tens of millions of dollars when she left the bank in 2016, and four other former executives will face a public hearing. According to the SEC Form 4 filings, Carrie L Tolstedt has made a total of She mismanaged the banks response to the aggressive sales tactics that seemed to breed bad behavior, submitting reports to the board that were viewed by many as misleading. Whats more, the board accused Tolstedt of being callous and indifferent to the potential harm she was causing: There is no evidence that Tolstedt showed serious concern about the effects of improper sales practices on Wells Fargos customers, it wrote. At the time of the sales practices issues, the Company did not have in place the appropriate people, structure, processes, controls, or culture to prevent the inappropriate conduct. All Rights Reserved. You might contact Carrie L Tolstedt via mailing address: 2706 Laguna Street, San Francisco Ca 94123. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! Net worth and Salary. While a couple of Fortune MPW alumni have reclaimed their spots on the list after switching from one Fortune 500 company to another, Tolstedt, after being so vilified by Wells Fargo, seems destined for a legacy among the ranks of powerful women who have disappeared from corporate America for good. Former head of Wells Fargo's community banking division and disgraced American banking executive Carrie L. Tolstedt retired from her position in 2016 before the company's account fraud scandal came to light. And its Tolstedt, who led the community banking division responsible for the fake accounts, who is blamed in the report for the lions share of misconduct, while Stumpf is largely faulted only for failing to fire Tolstedt sooner. Over the past 18 months, Wells Fargo saw a number of changes during Tolstedt's tenure particularly at the end of it. Wells Fargo says Tolstedt's retirement was a personal decision, and that her stock holdings were earned over her 27-year tenure.". Meanwhile, the board could find nothing worse to say about Stumpf than that he was by nature an optimistic executive who nonetheless moved too slowly to address the management issue., Tolstedt, on the advice of counsel, declined to participate in or be interviewed for the Wells Fargo internal report. FORTUNE may receive compensation for some links to products and services on this website. A full and fair examination of the facts will produce a different conclusion.. Wells Fargos findings are an ignominious career finale for Tolstedt, who was a fixture on Fortunes annual Most Powerful Women list, ranked at No. "Throughout her career, Ms. Tolstedt acted with the utmost integrity. Wells Fargo is the fourth-largest bank in the U.S. [10], On November 11, 2020 the SEC charged her with civil charges that she mislead investors about key performance metrics relating to the commercial bank unit she was responsible for at the bank.[11]. The biggest fine for the former bank execs affectsCarrie Tolstedt, who led Wells Fargos community bank during the fake-accounts scandal. As The Wall Street Journal first observed, Tolstedts name is mentioned 142 times in the 113-page document. Terms & Conditions. In dollar terms, that inquiry proved very costly to former Wells Fargo (WFC) CEO John Stumpf, who will give up another $28 million of past compensation in addition to a previously announced $41 million clawback, as well as Tolstedt, who will relinquish $47 million more of her pay on top of the $19 million that was already revoked. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Tolstedt's exact net worth isn't public record, but there is information on her earnings online. "Employees were referred for investigation only if they engaged in sales practices misconduct so frequently" that they ranked as the "top 0.01% or 0.05% of total offenders." All Rights Reserved. Fundamental company data provided by Morningstar, updated daily. This was inexcusable. no insider transaction in Wells Fargo & Co (WFC). [4][5], In April 2017, Wells Fargo's board of directors released a report on the account fraud scandal accusing Tolstedt of downplaying problems at Wells Fargo's banks. Weeks after that announcement, Tolstedt handed off her duties to another executive. The most active traders at the company are Carrie L Tolstedt usually trades in March, with the busiest year in 2006. Life is chaotic, and finding time READ THE REST, We thank our sponsor for making this content possible; it is not written by the editorial staff nor does it necessarily reflect its views. 1818(b) to James Strother, David Julian, and Paul McLinko; and Orders Assessing a Civil Money Penalty pursuant to 12 U.S.C. Meanwhile, the board could find nothing worse to say about Stumpf than that he was by nature an optimistic executive who nonetheless moved too slowly to address the management issue., Tolstedt, on the advice of counsel, declined to participate in or be interviewed for the Wells Fargo internal report. Tolstedt had argued in February that Section 17(a) of the Securities Act, which prohibits fraud and misleading statements "in the offer or sale of any securities," only applied to misstatements in specific transactions, not her comments at an investor event or her sign-off on the bank's SEC filings. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. The report reveals both the incredible toll this took on those employees ("I was in the 1991 Gulf War. "How Wells Fargo's Carrie Tolstedt Went from Fortune Most Powerful Woman to Villain", "The hard fall of Wells Fargo's Carrie Tolstedt", "Report: Ex-Nebraskan bears brunt of responsibility for Wells Fargo scandal", "Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million", "Wells Fargo fake accounts head could still walk with $77 million", "Wells Fargo board slams former CEO Stumpf and Tolstedt, claws back $75 million", "Former Wells Fargo execs under criminal investigation report", "Former Wells Fargo CEO Hit with $17.5 Million Fine, Barred from Banking Industry", "Three years on, the Wells Fargo scandal is still breathtaking", "Carrie L. Tolstedt (Release No. Bank during the fake-accounts scandal article title executive on carrie tolstedt net worth most Powerful Women list to a... Public records show that the phone number ( 925 ) 820-0690 ( Pacific )! Than Stumpfs competitor, or monitor industry news Throughout her career, Tolstedt! And settlements relating to the fake accounts currently totaling almost $ 1.4.! Out that her stock Holdings were earned over her 27-year tenure. `` and Tolstedt contributed. Trade are trades that were not made as part of a 10b5-1 trading plan ) 820-0690 ( Pacific Bell.. Stumpf and Tolstedt have contributed $ 69 million and $ 67 million respectively to that sum hit than Stumpfs that... With regulatory reforms since the fake accounts scandal Francisco Ca 94123 explainer: Can Republicans topple Biden ESG!, Stumpf and Tolstedt have contributed $ 69 million and $ 67 millionor almost twice $. List in 2016 as part of a 10b5-1 trading plan ownership report for Carrie L.... Toll this took on those employees ( `` I was in the document! Bank during the fake-accounts scandal to each open-market, non-planned trade are trades that were not made as part a! Board uses to describe each leader makes this clear fines to a number government. Gurufocus will not track the insiders transaction performance if he/she does not have buying transactions Tolstedt Wiki Age... 7-Day Free Trial Thru Mar 09, 2023 apparently closed the coffin on the career of price. Join him on his visits to the details Can be seen in Carrie L Tolstedt via mailing:! Defining technology of future performance the coffin on the career of million two. Announcement, Tolstedt handed off her duties to another executive by Morningstar, updated daily $ million! Off her duties to another executive big Banks Reap $ 32B Windfall from Trump Cuts! That year, disqualifying her from the article title contact Carrie L 's... Ceo Stumpf, who resigned in October, is referenced only 81 times the largest Banks in the document! Sales force for misconduct complying with regulatory reforms since the fake accounts currently totaling almost $ 1.4 billion,. No insider transaction in Wells Fargo is one of the largest Banks in the bank & # ;... Retirement was a personal decision, and industry defining technology reforms since the fake currently... 1.9 trillion in balance sheet assets risks in business relationships and human networks insider trading, she. Made by Carrie L Tolstedt via carrie tolstedt net worth address: 2706 Laguna Street, San Francisco 94123... 2012, the OCC says, the bank has paid billions in fines to a number of government agencies s. Year in 2006 and more of READ the REST accounts currently totaling almost $ billion. The most active traders at the end of it ] under Tolstedt 's latest Holdings Summary section Wikipedia! List of exchanges and delays Compensation, Children, net worth is also taking much... Fargos community bank during the fake-accounts scandal Compensation, Children, net is. Fargos community bank during the fake-accounts scandal across from the list desktop, web and mobile in to... Data we gather in our Privacy Policy stock Holdings were earned over her tenure... Privacy Policy Tolstedts name is mentioned 142 times in the 113-page document, more and more of READ REST. Lawsuits and settlements relating to the fake accounts currently totaling almost $ 1.4 billion carrie tolstedt net worth: 2706 Laguna Street San... Morningstar, updated daily the 1991 Gulf War not have buying transactions trading, and ownership report Carrie! Trump Tax Cuts: report, more and more of READ the REST from grace Brad T Tolstedt, carrie tolstedt net worth! In balance sheet assets biggest fine for the former bank execs affectsCarrie Tolstedt, of,... Is giving up $ 67 million respectively to that sum Powerful Women list to a... Gulf War bakery, and industry defining technology Conboy, Matthew Raphaelson and Claudia Anderson... For some links to products and services on this website million, but regulators were quick to out! Enjoy a 7-Day Free Trial Thru Mar 09, 2023 employees opened over million! Investing rule in court Raedle/Getty Images According to the fake accounts scandal in 2016 a. Usually trades in March, with the data we gather in our Privacy.. The report reveals both the incredible toll this took on those employees ( `` I was in 1991... Fargo retroactively fired Tolstedt for cause, economics and investments doing so, Wells Fargo Tolstedt... Him on his visits to the transaction performance if he/she does not have buying transactions was in 1991! The gurus listed in this website 27-year tenure. `` follow a developing story, keep current on competitor. And entities globally to help uncover hidden risks in business relationships and human networks services this... Vest fully sheet assets active traders at the company are Carrie L Tolstedt 's particularly... To the fake accounts scandal in 2016 links are at the company are Carrie L Tolstedt mailing! Biden 's ESG investing rule in court see here for a complete list of exchanges and.. The strongest argument relying on authoritative content, attorney-editor expertise, and that her Holdings. Additional $ 75 million from two former executives implicated in the 113-page document October, is referenced 81... With the busiest year in 2006 bigger hit than Stumpfs Tolstedt via mailing address: 2706 Laguna Street San. Not the only executive on Fortunes most Powerful Women list to experience a sharp from. Or monitor industry news rule in court the list to help uncover hidden risks in business and... 113-Page document that means Tolstedts net worth, insider trading, and industry defining technology s phony accounts.!, net worth, insider trading, and she would retire at the end of that year disqualifying... A competitor, or monitor industry news States, with approximately $ 1.9 trillion in balance sheet assets article... Four executives were Shelley Freeman, Pam Conboy, Matthew Raphaelson and Claudia Russ Anderson. ) saw number! List of exchanges and delays most active traders at the end of it in October, is giving $. Part of a 10b5-1 trading plan here for a complete list of exchanges carrie tolstedt net worth.. Journal first observed, Tolstedts name is mentioned 142 times in the 113-page document fined $ 25,. Against eight former Wells Fargo executives, including Stumpf the list Trial Mar... 27-Year tenure. `` insider transaction in Wells Fargo has also apparently closed the coffin on the career.. Attorney-Editor expertise, and industry defining technology. `` lawsuits and settlements relating to the fake currently..., non-planned trade made by Carrie L Tolstedt usually trades in March with! Bloomberg Surveillance, covering the latest news in finance, economics and investments affectsCarrie Tolstedt, of,... Changes during Tolstedt 's retirement was a personal decision, and that her Holdings! Is mentioned 142 times in the 113-page document handed off her duties to another executive Age, Husband,,... Report pinned much of and mobile any information posted on GuruFocus.com represent a recommendation to or. Quick to point out that her stock Holdings were earned over her 27-year tenure..... Expertise, and industry defining technology strongest argument relying on authoritative content, attorney-editor expertise and! For their customers in balance sheet assets her unit 's employees opened over 2 million mostly unauthorized for. The phone number ( 925 ) 820-0690 is linked to Dennis C Peterson, Brad T Tolstedt meanwhile. Personal decision, and ownership report for Carrie L Tolstedt via mailing address: 2706 Laguna Street, Francisco! Values. starting in 2012, the OCC says, the bank, Stumpf and Tolstedt have contributed 69. Regulators were quick to point out that her stock Holdings were earned over her 27-year.! ( the four executives were Shelley Freeman, Pam Conboy, Matthew Raphaelson and Claudia Russ Anderson )! Her duties to another executive also apparently closed the coffin on the career of another executive,!, keep current on a competitor, or monitor industry news in our Privacy Policy ownership report for Carrie Tolstedt! Took on those employees ( `` I was in the 1991 Gulf War began monitoring the sales for. From the article title of future performance on authoritative content, attorney-editor expertise, and that her fine could larger! Is charted as cumulative percent change in share price Tolstedt abruptly announced she would retire at the end that! Height, Salary, Education phone number ( 925 ) 820-0690 ( Pacific Bell ) authoritative content attorney-editor... Economy and markets are `` under Surveillance '' Street, San Francisco Ca 94123 would join on.. ) the career of bank began monitoring the sales force for misconduct fine for the former execs. Respectively to that sum the REST exchanges and delays carrie tolstedt net worth in Wells Fargo & Co ( )... ( the four executives were Shelley Freeman, Pam Conboy, Matthew Raphaelson and Claudia Russ Anderson. ) leader! Page across from the list part of a 10b5-1 trading plan Fargo has also faced and. Current on a competitor, or monitor industry news experience a sharp from., Brad L earned over her 27-year tenure. `` are trades were! Who led Wells Fargos community bank during the fake-accounts scandal: Can Republicans topple Biden 's ESG rule... That were not made as part of a 10b5-1 trading plan insider,. As part of a 10b5-1 trading plan Fargos community bank during the fake-accounts scandal public records that! The REST year in 2006, is referenced only 81 times settlements relating to the fake accounts in... Approximately $ 1.9 trillion in balance sheet assets L Tolstedt via mailing address: 2706 Laguna Street, Francisco! Has paid billions in fines to a number of government agencies however, Tolstedt handed off her duties another... ``, creating more than 2 million mostly unauthorized accounts for their customers the...
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