Wells Fargo reached a $185 million settlement with regulators in September over creating what it then said could be as many as 2.1 million accounts in customers' names without their permission. Though his promotion came with a higher base salary and more long-term stock awards, his total package was less than the $19.3 million Stumpf received for 2015.įinance chief John Shrewsberry and David Carroll, who heads wealth and investment management, also received bigger pay packages for 2016 despite the absence of bonuses. Sloan, 56, had been president and chief operating officer until October. He took over after his predecessor, John Stumpf, resigned in light of revelations that thousands of Wells Fargo employees had opened perhaps millions of unauthorized customer accounts. Sloan was CEO for only a few months in 2016.
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