BLOOMBERG: The Former Wells Fargo CEO’s Future Is Secure Despite Tens of Millions in Penalties

Bloomberg - Anders Melin - 1/23/20

John Stumpf left Wells Fargo & Co. with his image in tatters, lost more than $70 million through forfeitures and a clawback, and now faces a government fine and a lifetime ban from the financial industry.

But that won’t upend his nest egg.

Even after subtracting the clawback and forfeitures, the bank’s former chief executive officer stepped away with stock worth more than $80 million, according to calculations by Bloomberg. He collected more than $60 million of salary and bonuses during his years at the San Francisco-based firm. And he had accumulated a pension worth $22.7 million by the time he departed.

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