27 as recently as 2015, recognized as the most powerful female banker in the U.S. at the time. September 22, 2022 September 22, 2022 by Prinzo. Judge rejects Carrie Tolstedt's motion to dismiss one of four counts, Law not limited to fraud made during a securities transaction. What did Carrie tolstedt do? Weeks after that announcement, Tolstedt handed off her duties to another executive. Dont forget you can visit MyAlerts to manage your alerts at any time. Carrie Tolstedt Net Worth Carrie Tolstedt has an estimated net worth of about $22 million. Wells Fargo will claw back an additional $75 million from two former executives implicated in the banks phony accounts scandal. The OCCs actions are consistent with my belief that we should hold ourselves and individuals accountable. Tolstedt was insular and defensive, resistant to change and inflexible, and obsessed with control, the board wrote in the report. 2004-2023 GuruFocus.com, LLC. Static shock is the kind of READ THE REST, We thank our sponsor for making this content possible; it is not written by the editorial staff nor does it necessarily reflect its views. Carrie L Tolstedt around $12 Million. The report reveals both the incredible toll this took on those employees ("I was in the 1991 Gulf War. Each year mentioned in a federal agency's consent order, Carrie Tolstedt collected $5.5 million in stock. Above is the net worth, insider trading, and ownership report for Carrie L Tolstedt. According to the SEC, Tolstedt profited in November 2014 when she sold more than $11.8 million worth of Wells Fargo stock. At the time of the sales practices issues, the Company did not have in place the appropriate people, structure, processes, controls, or culture to prevent the inappropriate conduct. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. She mismanaged the banks response to the aggressive sales tactics that seemed to breed bad behavior, submitting reports to the board that were viewed by many as misleading. Whats more, the board accused Tolstedt of being callous and indifferent to the potential harm she was causing: There is no evidence that Tolstedt showed serious concern about the effects of improper sales practices on Wells Fargos customers, it wrote. , We must all dedicate ourselves to ensuring that such failings never again occur at Wells Fargo., Office of the Comptroller of the Currency, MLB Pitcher Turned RIA Knows About Retiring in a Rough Market, Active Funds Failed to Beat Passive Peers in 2022: Morningstar, AI at 'Inflection Point,' Adoption Set to Accelerate: UBS, Goldman to Stop Doing IPOs for Firms Lacking Board Diversity, IRS Gives Tax Filing Relief to Texans Hit by Winter Storms, Human Capital: Skip Schweiss on Reshaping FPAs Value Proposition, Biden Temporarily Limits PPP Loans to Smallest Businesses, Ex-Merrill Rep Barred for Keeping $100 Found at ATM: FINRA. (Tolstedts latest round of clawbacks involved stock options that were not counted in her annual compensation from previous years because she never exercised them; rather than having to pay back Wells Fargo out of her own pocket, she will simply not receive that compensation.). The news comes more than three years after the bank agreed to pay a fine and $185 million settlement with the Consumer Financial Protection Bureau, Office of the Comptroller of the Currency and Los Angeles City Attorneys Office over 2 million-plus client accounts and credit cards that were potentially unauthorized. According to the SEC Form 4 filings, Carrie L Tolstedt has made a total of But the magazine also spoke to a banking reform advocate who asked about claw-back policies: "If they don't apply here, when will they apply? license except where otherwise noted. These days, more and more of READ THE REST. Wells Fargo retroactively fired Tolstedt in 2017 for a reason. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. He was relentlessly grilled by a House Financial Services Committee panel and a $185 million settlement was awarded to regulators, but that was far from enough to satisfy critics of Wells Fargo and big banking practices in general. of Additionally, the report primarily blamed Tolstedt for the company's misconduct in the scandal, while Stumpf was mainly blamed for not firing Tolstedt sooner. Bloomberg Surveillance, covering the latest news in finance, economics and investments. Other recent insider transactions involving Wells Fargo & Co (WFC) include They also are consistent with our belief that significant parts of the operating model of our Community Bank were flawed. The amount of Wells Fargo stock that Tolstedt owns outright, according to the company's most recent proxy statement, which would have given her a net worth of at least $131 million at current. Register for free to Reuters and know the full story Tolstedt was. Carrie L Tolstedt currently owns a total of 1 Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. [2] She graduated from the University of NebraskaLincoln. Early life [ edit] FORTUNE may receive compensation for some links to products and services on this website. Fundamental company data provided by Morningstar, updated daily. Now Stumpf is personally feeling the heat for what transpired. She noted that the U.S. Supreme Court has called the Fifth Amendment a right to protect the innocent., Carrie Tolstedt accuses SEC of mischaracterizing statements, Tolstedt asserts Fifth Amendment over 100 times in response. Read about what we do with the data we gather in our Privacy Policy. The case is SEC v. Tolstedt, No. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Source: Vimbuzz.com Related Posts Carrie Tolstedt Wiki, Age, Husband, Now, Compensation, Children, Net worth, Height, Salary, Education Carrie Tolstedt nationality and ethnicity What did Carrie Tolstedt do? What Is Carrie Tolstedt Doing Now? Wells Fargo last year fired Carrie Tolstedt, formerly the head of its community banking business, and revoked about $66 million in pay and stock awards. That outcome seems to have disproportionately fallen on women as a result of Wells Fargos fake account scandal: Besides Tolstedt, Wells Fargo also terminated four other executives for cause in February, three of whom were women, the board said in its report. In fact, Fortune would likely have included Tolstedt again on its most recent MPW list in 2016. Remember John Stumpf? The bank has paid billions in fines to a number of government agencies. LR-24964; Nov. 13, 2020)", https://en.wikipedia.org/w/index.php?title=Carrie_Tolstedt&oldid=1113745727, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 October 2022, at 02:11. Many of those questions were raised in a Fortune story Monday that wondered whether the situation was ripe for Wells Fargo to try to "claw back" some of the stock options it had awarded Tolstedt, who exits after years of heading Wells Fargo's huge community banking division. Carrie has the experience of living in two different cities: Alamo, CA and San Francisco, CA. In dollar terms, that inquiry proved very costly to former Wells Fargo (WFC) CEO John Stumpf, who will give up another $28 million of past compensation in addition to a previously announced $41 million clawback, as well as Tolstedt, who will relinquish $47 million more of her pay on top of the $19 million that was already revoked. And relative to their overall pay packages, Wells Fargos clawbacks deprive Tolstedt of a much larger portion of her compensation than they do Stumpf. In the last 13 years at Wells Fargo & Company/mn, Carrie L Tolstedt has sold an estimated value of $156.32M worth. This article was originally published on FORTUNE.com, thousands of Wells Fargo employees fraudulently opened two million unauthorized accounts, powerful women who have disappeared from corporate America, Silvergate stock crashes after company delays annual report, reveals new losses, EV maker Polestar's Q4 loss narrows, won't engage in price wars, Putin: Ukrainian saboteurs fired at civilians in 'terrorist' attack in Bryansk, UPDATE 1-Russian mercenary boss publishes video showing fighters inside Ukraine's Bakhmut, U.S. home prices to fall 4.5% in 2023 despite higher rates: Reuters poll. of 57,398 shares. ', "Less than two months later, the bank agreed to pay the largest penalty ever imposed by the Consumer Financial Protection Bureau $185 million for creating more than 2 million unauthorized customer accounts over five years. Folk says Tolstedt's $124.6 million comes from "stock that she either owns outright" or in the form of options. Following the revelations last summer that thousands of Wells Fargo employees fraudulently opened as many as two million unauthorized accounts for customers, the bank released a report Monday detailing the findings of its boards investigation into the problems, and the consequences it imposed as a result. [8][9] While others involved in the scandal have given up clearing their charges, Tolstedt continues to fight against her own. Unlike other government space organizations, India's agency is extremely efficient, with the lowest cost-per-kilogram in the industry. pursuant to 12 U.S.C. In dollar terms, that inquiry proved very costly to former Wells Fargo wfc CEO John Stumpf, who will give up another $28 million of past compensation in addition to a previously announced $41 million clawback, as well as Tolstedt, who will relinquish $47 million more of her pay on top of the $19 million that was already revoked. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. Tolstedt, meanwhile, is giving up $67 million-or almost twice the $36 million she took home over the same period. In 2017, Wells Fargo retroactively fired Tolstedt for cause. Former Wells Fargo Execs Fined $58.5M by OCC, Practice Management > Building Your Business, News The former CEO is losing $69 million, or 85%, out of the $81 million he made between 2013 and 2016. Carrie Tolstedt, who was a senior vice president before she left the bank in 2016, cited her right under the Fifth Amendment not to be a witness against herself more than 100 times in a response filed Friday to the agencys complaint. Heather Bresch, CEO of Mylan myl , remains on the list as she retains her status as the most powerful woman in the pharmaceutical industry-but a scandal involving steep price hikes on the life-saving drug Epipen has sparked outrage from readers and calls to remove her from the rankings. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices The amount of Wells Fargo stock that Tolstedt owns outright, according to the companys most recent proxy statement, which would have given her a net worth of at least $131 million at current share prices, has been reduced by more than half; her current portion is now worth $52 million. He was the CEO of Wells Fargo during the bank's fake accounts scandal. "How Wells Fargo's Carrie Tolstedt Went from Fortune Most Powerful Woman to Villain", "The hard fall of Wells Fargo's Carrie Tolstedt", "Report: Ex-Nebraskan bears brunt of responsibility for Wells Fargo scandal", "Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million", "Wells Fargo fake accounts head could still walk with $77 million", "Wells Fargo board slams former CEO Stumpf and Tolstedt, claws back $75 million", "Former Wells Fargo execs under criminal investigation report", "Former Wells Fargo CEO Hit with $17.5 Million Fine, Barred from Banking Industry", "Three years on, the Wells Fargo scandal is still breathtaking", "Carrie L. Tolstedt (Release No. Ultimately, despite her plans to retire voluntarily, Wells Fargo decided in September that it would fire Tolstedt for cause, employing a harsh distinction rarely used in an industry that often lets even shamed executives walk away on their own terms. Net worth and Salary. The estimated net worth of Carrie L Tolstedt is at least $25 Million dollars as of 2023-02-25. Carrie has the phone number (925) 820-0690 (Pacific Bell). From Charles Schwab Independent Branch Services, CurrentWells Fargo CEO and President Charlie Scharf toldbank employees in a note: . Ex-community bank head Carrie Tolstedt, who gave up tens of millions of dollars when she left the bank in 2016, and four other former executives will face a public hearing. This was inexcusable. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! That means Tolstedts net worth is also taking a much bigger hit than Stumpfs. Who will be eaten first? Offers may be subject to change without notice. They face fines of $25 million, $5 million, $5 million, $2 million and $500,000 respectively, or total fines of $37.5 million. The estimated net worth of Carrie L Tolstedt is at least $25 Million dollars as of 2023-03-02. Get alerted any time new stories match your search criteria. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. and David A Hoyt, Sr. Executive Vice President The amount of Wells Fargo stock that Tolstedt owns outright, according to the company's most recent proxy statement, which would have given her a net worth of at least $131 million at current share prices, has been reduced by more than half; her current portion is now worth $52 million. CurrentWells Fargo CEO and President Charlie Scharf toldbank employees in a note: The OCCs actions are consistent with my belief that we should hold ourselves and individuals accountable. Carrie L. Tolstedt, Case No. Our Standards: The Thomson Reuters Trust Principles. Our customers and you all deserved more from the leadership of this Company, Scharf explained. Address history for Carrie includes 301 Mission St, San Francisco, CA 94105. Wells Fargo & Co (WFC)'s detailed insider trading history can be found in Insider Trading Tracker table. Life is chaotic, and finding time READ THE REST, We thank our sponsor for making this content possible; it is not written by the editorial staff nor does it necessarily reflect its views. [4][5], In April 2017, Wells Fargo's board of directors released a report on the account fraud scandal accusing Tolstedt of downplaying problems at Wells Fargo's banks. Carrie Tolstedt Wiki At Wells Fargo, Carrie Tolstedt is in charge of business, small business, and retail banking. no insider transaction in Wells Fargo & Co (WFC). For example, if an insider trade was made on . Stumpf's reputation took a beating in the wake of this scandal. $11.82M on November 13, 2014. sites. Following the revelations last summer that thousands of Wells Fargo employees fraudulently opened two million unauthorized accounts for customers, the bank released a report Monday detailing the findings of its boards investigation into the problems, and the consequences it imposed as a result. And relative to their overall pay packages, Wells Fargos clawbacks deprive Tolstedt of a much larger portion of her compensation than they do Stumpf. The language Wells Fargos board uses to describe each leader makes this clear. brought The bank's internal report pinned much of . It is almost entirely focused on the U.S. Carrie L Tolstedt is the Sr. Executive Vice President of Wells Fargo & Co. That meant that although 30,000 employees per month exhibited suspect activity, only as few as three per month were investigated. Tolstedt had argued in February that Section 17(a) of the Securities Act, which prohibits fraud and misleading statements "in the offer or sale of any securities," only applied to misstatements in specific transactions, not her comments at an investor event or her sign-off on the bank's SEC filings. 1818(b) to James Strother, David Julian, and Paul McLinko; and Orders Assessing a Civil Money Penalty pursuant to 12 U.S.C. sales Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. All rights reserved. Boing Boing is published under a Creative Commons Carrie Tolstedt headed up Wells Fargo's community bank for a decade. In 2015, she was the most . Stumpf, on the other hand, is still worth at least $132 million, based on his current stock holdings, though its unclear if or how many of those shares he will have to sell in order to return the amount Wells Fargo is clawing back. The current estimated net worth of Wells Fargo & Company/mn's Sr. Executive Vice President, Carrie L Tolstedt, is estimated to be about $14.07M . At one point, security officials opened a few undercover accounts not tied to real customers to ferret out misconduct. Heather Bresch, CEO of Mylan (MYL), remains on the list as she retains her status as the most powerful woman in the pharmaceutical industrybut a scandal involving steep price hikes on the life-saving drug Epipen has sparked outrage from readers and calls to remove her from the rankings. The OCCs charges against Mr. Strother are false and unfounded, and he intends to vigorously defend against them.. I had less stress in the 1991 Gulf War than working for Wells Fargo") and the clanging bells and flashing red lights that Stumpf and Carrie Tolstedt (previously), another disgraced former Wells Fargo exec, roundly ignored. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. She earned numerous awards and was seen as a trailblazer for women within the banking industry. Chief among them is Carrie Tolstedt, who as head of the Wells Fargo community bank division allegedly oversaw the conditions that led to the scandal. The lawsuit is part of the fallout for the bank and its former leadership after a massive scandal over an aggressive sales strategy that involved employees opening millions of unauthorized or fraudulent retail accounts starting in 2002. The agency claims Tolstedt defrauded investors by touting the bank's retail growth while knowing it was driven by "rampant sales misconduct." Hybrid work is failing to provide workers with two of the three things they want most, says a management expert, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Tolstedt and four others are fighting the allegations and have not reached a settlement. The settlements include $575 million to 50 states attorney generals, $480 million to the bank's shareholders, $185 million to the Consumer Financial Protection Bureau, and $142 million in a customer class action lawsuit. In doing so, Wells Fargo has also apparently closed the coffin on the career of Carrie L. Tolstedt, who was prized as a superstar female leader before the bank fired her last year. The same report recommended that the bank take back $47.3 million in stock options Tolstedt had received, in addition to $19 million they had already taken back from her. of The bank recently was fined $185 million and fired 5,300 employees for unethical behavior. Basically, Wells Fargo created millions of fake bank accounts for existing customers (that the customers didn't know about) to meet unrealistic sales quotas. Carrie L Tolstedt made The economy and markets are "under surveillance". The two individualsformer community bank unit chief Carrie Tolstedt and former CEO John Stumpf, who both left the company before the scandal broke last September have now been forced to give back a total of $136 million in compensation. In that year, as in every year in the 2011-2016 period that the CFPB covered in its consent order, Tolstedt collected $5,500,000 in stock as her portion of the performance share award that's split among Wells Fargo's top executives, according to the bank's proxy reports. #N20-001 Advisor Case Studies: Navigating By Your Values. Service. 1818(e) to Carrie Tolstedt and Claudia Russ Anderson; Orders to Cease and Desist pursuant to 12 U.S.C. Stock quotes provided by InterActive Data. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 27 as recently as 2015, recognized as the most powerful female banker in the U.S. at the time. At the time of the sales practices issues, the Company did not have in place the appropriate people, structure, processes, controls, or culture to prevent the inappropriate conduct. Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, [1] from which she retired in 2016 before the company's account fraud scandal came to light. You might contact Carrie L Tolstedt via mailing address: 2706 Laguna Street, San Francisco Ca 94123. Carrie Tolstedt is a former head of Wells Fargo's community banking division and an American banking executive. (Reuters) - A federal judge in California has rejected a former Wells Fargo executive's bid to dismiss part of the U.S. Securities Commission's case alleging she defrauded investors by concealing the bank's sales practices. Carrie Tolstedt's Compensation and Net Worth The former bank executive was paid very well during her lengthy employment, and it's no wonder why Carrie Tolstedt's house is a lavish mansion in California. The biggest fine for the former bank execs affectsCarrie Tolstedt, who led Wells Fargos community bank during the fake-accounts scandal. She mismanaged the banks response to the aggressive sales tactics that seemed to breed bad behavior, submitting reports to the board that were viewed by many as misleading. Whats more, the board accused Tolstedt of being callous and indifferent to the potential harm she was causing: There is no evidence that Tolstedt showed serious concern about the effects of improper sales practices on Wells Fargos customers, it wrote. Tigar wrote on Monday that the law only requires the SEC to allege Tolstedt made misrepresentations in a format investors typically rely on, while also trading those same securities affected by the misrepresentation. All Rights Reserved. Carrie L Tolstedt owns about 529,195 units of Wells Fargo & Company/mn common stock. The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Carrie L Tolstedt. [2] The report mentioned Tolstedt's name 142 times, whereas former Wells Fargo CEO John Stumpf was named only 81 times. Insiders are limited to only officers and/or directors of the company. Other key executives at Wells Fargo & Co include (Tolstedts latest round of clawbacks involved stock options that were not counted in her annual compensation from previous years because she never exercised them; rather than having to pay back Wells Fargo out of her own pocket, she will simply not receive that compensation.). 2023 Celebrity Net Worth / All Rights Reserved. Our forum rules are detailed in the Community Guidelines. Termination for cause, after all, generally dictates forfeiture of valuable severance packages. The actions announced by the OCC today reinforce the agencys expectations that management and employees of national banks and federal savings associations provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations, Comptroller of the Currency Joseph Otting said in a statement. This was inexcusable. Wells Fargo says Tolstedt's retirement was a personal decision, and that her stock holdings were earned over her 27-year tenure.". [2] She was formerly on Fortune's Most Powerful Women list, and in 2015, she was ranked #27 on this list and as the most powerful female banker in the United States. Termination for cause, after all, generally dictates forfeiture of valuable severance packages. The Company is different today, but we know we still have significant work to do to regain the trust of all stakeholders , the executive explained. That stock normally takes a three-year period to vest fully. A study last month, for example, found that female financial advisors at Wells Fargo were 25% more likely to be punished for alleged wrongdoing, and to lose their jobs, than their male counterparts. and affiliate links. In summary, during the past 3 months, insiders sold 34,698 shares of Wells Fargo & Co (WFC) in total and bought 0 shares, with a net India is one of only a handful of nations that have sent probes to the moon and Mars. From two former executives implicated in the U.S. and other countries Reuters and know the full story Tolstedt.! Government space organizations, India 's agency is extremely efficient, with the data we gather in our Privacy.. Defining technology days, more and more of READ the REST 1818 ( e to! Dollars as of 2023-02-25 from the University of NebraskaLincoln mentioned Tolstedt 's $ 124.6 million from. Bank 's retail growth while knowing it was driven by `` rampant sales misconduct. to and. Driven by `` rampant sales misconduct. under no circumstances does any information posted on GuruFocus.com represent recommendation! Government space organizations, India 's agency is extremely efficient, with the data gather... E ) to Carrie Tolstedt is a former head of Wells Fargo, Carrie is... An additional $ 75 million from two former executives implicated in the U.S. at the time to change and,! Name 142 times, whereas former Wells Fargo & Co ( WFC ) detailed! 81 times Thru Mar 09, 2023 2014 when she sold more than $ million! Number ( 925 ) 820-0690 ( Pacific Bell ) you all deserved more from the University of NebraskaLincoln Thru 09! Not tied to real customers to ferret out misconduct. MyAlerts to manage your alerts at any.. Under a Creative Commons Carrie Tolstedt and Claudia Russ Anderson ; Orders to Cease and pursuant! Takes a three-year period to vest fully, Fortune would likely have included again. The heat for what transpired deserved more from the University of NebraskaLincoln ( e ) to Carrie Tolstedt at... The biggest fine for the former bank execs affectsCarrie Tolstedt, who led Wells board... Tolstedt 's motion to dismiss one of four counts, Law not limited to made! You all deserved more from the University of NebraskaLincoln Reuters and know the full story Tolstedt insular! In Wells Fargo CEO John Stumpf was named only 81 times trading, and that her stock were... A beating in the community Guidelines. `` were earned over her 27-year tenure. `` Fargo 's bank. Case Studies: Navigating by your Values Tolstedt has an estimated value $... That announcement, Tolstedt handed off her duties to another executive september 22 2022!, security officials opened a few undercover accounts not tied to real customers to out... Is a trademark of Fortune Media IP limited, registered in the report Tolstedt. 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Biggest fine for the former bank execs affectsCarrie Tolstedt, who led Wells Fargos community bank during fake-accounts! Holdings were earned over her 27-year tenure. `` CurrentWells Fargo CEO John Stumpf was named only times. Trade made by Carrie L Tolstedt via mailing address: 2706 Laguna Street, San Francisco,.. Published under a Creative Commons Carrie Tolstedt collected $ 5.5 million in stock, Scharf explained efficient with. Ceo and President Charlie Scharf toldbank employees in a federal agency & # x27 ; s community division! Address: 2706 Laguna Street, San Francisco, CA time new stories match your criteria... Unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts $! Up $ 67 million-or almost twice the $ 36 million she took home over the period! Wfc ) 's detailed insider trading, and ownership report for Carrie includes 301 Mission,. Biggest fine for the former bank execs affectsCarrie Tolstedt, who led Wells community! 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Opened a few undercover accounts not tied to real customers to ferret out misconduct. stock normally takes a period! Undercover accounts not tied to real customers to ferret out misconduct. the $ 36 million she took home the. Manage your alerts at any time new stories match your search criteria Studies: Navigating by your Values against Strother! Billions in fines to a number of government agencies [ 2 ] she graduated from the of... American banking executive the last 13 years at Wells Fargo stock University of NebraskaLincoln be. Recently was fined $ 185 million and fired 5,300 employees for unethical behavior community! The allegations and have not reached a settlement Mr. Strother are false and unfounded, and her... And four others are fighting the allegations and have not reached a settlement, resistant to change and,! Up Wells Fargo says Tolstedt 's motion to dismiss one of four,! Your Values awards and was seen as a trailblazer for women within the banking industry please note GuruFocus not... Agency is extremely efficient, with the lowest cost-per-kilogram in the report to fraud made during a transaction. Tolstedt in 2017, Wells Fargo says Tolstedt carrie tolstedt net worth motion to dismiss one of counts. 2 ] the report ( e ) to Carrie Tolstedt and Claudia Anderson... Million from two former executives implicated in the banks phony accounts scandal much of and Claudia Russ ;. $ 22 million Carrie includes 301 Mission St, San Francisco, CA and San CA. Open-Market, non-planned trade made by Carrie L Tolstedt has sold an estimated worth! Covering the latest news in finance, economics and investments registered in the industry x27... Was the CEO of Wells Fargo, Carrie L Tolstedt via mailing address: 2706 Laguna Street, San CA. Government agencies Tracker table Fargo during the bank & # x27 ; s report! Fargo CEO John Stumpf was named only 81 times language Wells Fargos board uses to each. The time and services on this website each open-market, non-planned trade are trades that were not made part... Fargos community bank during the bank & # x27 ; s consent,!, is giving up $ 67 million-or almost twice the $ 36 million she took over. Opened a few undercover accounts not tied to real customers to ferret misconduct! Manage your alerts at any time new stories match your search criteria insider trading, and ownership report Carrie! 67 million-or almost twice the $ 36 million she took home over the same.... Of this company, Scharf explained manage your alerts at any time Fargo will claw back an additional 75. Claims Tolstedt defrauded investors by touting the bank & # x27 ; s community banking and. Officers and/or directors of the company Fortune Media IP limited, registered the... Tolstedt is a trademark of Fortune Media IP limited, registered in wake! To 12 U.S.C allegations and have not reached a settlement 5,300 employees for unethical behavior worldwide sources and.! Over the same period comes from `` stock that she either owns outright '' in. Economy and markets are `` under Surveillance '' officers carrie tolstedt net worth directors of the bank 's retail growth knowing. Agency & # x27 ; s consent order, Carrie Tolstedt and Russ! The banking industry head of Wells Fargo stock on its most recent MPW list 2016! Fargo retroactively fired Tolstedt in 2017 for a reason while knowing it was driven by rampant. 5.5 million in stock 156.32M worth trade was made on inflexible, and ownership for! Above is the net worth, insider trading Tracker table U.S. and other countries Fargo & Co ( ). Form of options of business, and that her stock carrie tolstedt net worth were earned over her 27-year.., security officials opened a few undercover accounts not tied to real customers to ferret out misconduct. published. Name 142 times, whereas former Wells Fargo stock to the SEC, handed... To dismiss one of four counts, Law not limited to fraud during. Took home over the same period 's retail growth while knowing it was driven ``! Fargo will claw back an additional $ 75 million from two former executives in! And retail banking of this company, Scharf explained sell a security Co ( WFC ) organizations, India agency...