He said he would use his position on the pension boards to push for governance changes at Wells Fargo, including separation of the chairman and chief executive roles. In a statement, the bank responded: “Wells Fargo has diligently and professionally worked with the state for the past 17 years to support the government and people of California. Advertisement Continue reading the main story“Will you at least seriously consider breaking up Wells Fargo?” asked Representative Brad Sherman, Democrat of California. One big question facing Mr. Stumpf is whether he will remain at the helm of the bank. Some analysts who follow the bank are beginning to openly speculate about Mr. Stumpf’s possible ouster.

Source: New York Times September 28, 2016 19:04 UTC