He was hired as general counsel in March 2017 to guide the bank through several scandals—a major one involved fake bank accounts. While the bank’s stock prices plunged, Parker worked to settle massive litigation and to calm its turbulent relationships with regulators, who placed a cap on the bank’s growth until they are satisfied with the reforms.
When the bank’s CEO left under pressure in March, it named Parker interim CEO, and by all accounts he worked hard to retain the title.
But Wells Fargo chose an outsider to be CEO, banking veteran Charles Scharf, who arrived Oct. 21. Parker returned to the general counsel role with much praise from both Scharf and the board of directors.
‘Enforcement 40’ for 2020
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