Timothy Sloan - Wells Fargo


Last quote by Timothy Sloan

Turnover now in our retail bank is the lowest it's been, that I can recall, in my 30 years at the company. When you put your shareholders first – I hope Warren Buffett isn't listening by the way – but when you put them first, then you're going to make mistakes. Because you're going to make short-term decisions that aren't focused on creating a long-term, successful company.feedback
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May 01 2017
Timothy Sloan has been quoted in 32 different articles. Most recently, Timothy Sloan has been quoted saying, “We're going to be very responsive, not only at the board level, but also at the management level to make sure that we fix everything that was broken and build a better Wells Fargo – and we're doing that every day.” in an article called Wells Fargo CEO's promise: We will 'fix everything that was broken'. This is only one of 41 quotes from Timothy Sloan. To see more examples Timothy Sloan’s views and opinions, check out the section below. You can filter Timothy Sloan's quotes by date and by topic to see, for example, what Timothy Sloan said about Wells Fargo recently and in the past.
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Timothy Sloan quotes

This agreement is another step in our journey to make things right with customers.feedback

We are committed to addressing the OCC's concerns.feedback

We are committed to addressing the O.C.C.'s concerns. Restoring trust in Wells Fargo and building a better bank for our customers and our communities is our top priority.feedback

For our team members and customers, we want to create a culture that's better every day.feedback

Today's update on retail banking trends is part of our ongoing commitment to transparency.feedback

What you see in that monthly update is that our checking account growth, primary checking account growth, a customer that's calling us their primary bank, is growing at about 1 percent year-over-year. Pre-crisis, we were in an environment where we were growing at about 4 percent. We're going to work very hard to get back to those levels. It's not going to happen immediately, but over time, we are.feedback

Would we like to take some of our excess capital and return it to our shareholders? Of course we would. And that's what they'd like us to do.feedback

Over time, we want to return more of our excess capital to our shareholders.feedback

It's about how many ATMs you have to offer. Or what type of features you offer on your mobile offerings, or where you have branches.feedback

The board is saying, Hey we are doing exactly what you are asking us to do. So why do we need this proposal?' My bet is that they will be satisfied with the board's report.feedback

I will describe it as more complicated than anyone could have imagined, but that's not an excuse. It's going to take a few more months to work through. But I assure you we will remediate all those customers. If the board feels there are other people responsible, there should be consequences. If rates rose dramatically, that could have a big negative impact, but I think the Fed is cognizant of the fact they want to raise interest rates without having a dramatic impact on economic growth.feedback

He's been very direct in terms of some of the mistakes that we made. I agree with him. We had an incentive program that drove the wrong behavior. I don't know if I'm going to be able to do anything to assure him. I think our performance is going to reassure him as to whether or not he should continue as a our largest shareholder.feedback

My primary focus has been to work with our team to rebuild trust within our company. We made some mistakes, we made some significant mistakes. We've owned up to them and we're making progress.feedback

I am pleased with the progress we have made in customer remediation, the ongoing review of sales practices across the company and fulfilling our regulatory requirements for sales practices matters.feedback

We continued to make make progress in the fourth quarter in rebuilding the trust of our customers, team members and other key stakeholders.feedback

Innovation plays a very important role for me as the new CEO of Wells Fargo as we rebuild trust in the company.feedback

So far interest rates and foreign currency fluctuations have moved even more than in Q1, and in the opposite direction.feedback

We've found that the majority of cases were handled appropriately. However, there are some instances where we have questions so we are doing further investigation of those matters.feedback

We at Wells Fargo look forward to working with the new Administration and Congress to do all we can to help achieve this goal.feedback

Now with the election behind us, the American people are looking to our policymakers to bridge the divide and focus on matters important to the country and our future.feedback

I don't want there to be a question about how we interact with customers at Wells Fargo. We're going to put that to rest. That's going to be done in a very comprehensive way and it's going to be done relatively quickly, but it's going to be done right.feedback

Many felt we blamed our team members. That one still hurts, and I am committed to rectifying it.feedback

My primary objective is to restore trust in Wells Fargo–restore pride in our company and mission. That may seem like a long ways off today,but I promise you we will.feedback

You also should expect more tough headlines, as additional accountability actions occur, and other investigations and reviews are completed.Some of that is going to be very painful for us.feedback

For now, our immediate priority is restoring trust in Wells Fargo.feedback

We know that it will take time and a lot of hard work to earn back our reputation, but I am confident because of the incredible caliber of our team members. We will work tirelessly to build a stronger and better Wells Fargo for generations to come.feedback

Saying we put our team members through the wringer is an understatement.feedback

[Stumpf] concluded that this was the right thing to do for the company to allow it to move forward, because he felt that the focus on him was becoming a distraction and a hindrance to the business.feedback

We felt like there was more answers that we could have provided, but those hearings are overwith and we're moving on.feedback

It's going to be harder for awhile, and we get that.feedback

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