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Here's Wall Street's first take on the new Wells Fargo leadership

Mike Mayo: New chapter for Wells Fargo

Wall Street analysts were divided on Wells Fargo's late Wednesday announcement that John Stumpf will retire from his position as chairman and CEO, effective immediately.

Some saw positives in the appointment of a generally well-liked Tim Sloan, president and chief operating officer, as CEO. Other analyses, however, said Wells Fargo will need to do more to generate confidence as it seeks to move beyond a community banking scandal that resulted in Wells paying $185 million in penalties. The bank still faces a series of inquiries on state and federal levels.

Stumpf's departure was generally expected, though it came earlier than anticipated, especially as Wells is scheduled to report earnings Friday morning. Lead director Stephen Sanger will serve as the nonexecutive chairman of the company's board of directors.

Here's a roundup of what Wall Street is saying about the change.