Carrie L Tolstedt is the Sr. Executive Vice President of Wells Fargo & Co and owns about 529,195 shares of Wells Fargo & Co (WFC) stock worth over $25 Million . Terms & Conditions. 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. In doing so, Wells Fargo has also apparently closed the coffin on the career of. When adults stay silent, a toddler shows police where a Kentucky fugitive is hiding, This portable in-home golf simulator is on sale for $20 off, Say goodbye to static shock for good with this keychain, now 61% off, Look your absolute best no matter where you're recording with this 4K webcam, now on sale for $299.99, Terms The OCCs charges against Mr. Strother are false and unfounded, and he intends to vigorously defend against them.. Our forum rules are detailed in the Community Guidelines. It has been restructuring and complying with regulatory reforms since the fake accounts scandal in 2016. On this Wikipedia the language links are at the top of the page across from the article title. That stock normally takes a three-year period to vest fully. Wells Fargo & Company/mn's most recent insider trade came on February 27, 2023 by We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising A full and fair examination of the facts will produce a different conclusion.. Wells Fargo will claw back an additional $75 million from two former executives implicated in the banks phony accounts scandal. no insider transaction in Wells Fargo & Co (WFC). license. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. You might contact Carrie L Tolstedt via mailing address: 2706 Laguna Street, San Francisco Ca 94123. sites. Not a "thing". 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. Dont forget you can visit MyAlerts to manage your alerts at any time. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. pursuant to 12 U.S.C. Her attorneys did not immediately respond to a request for comment on the ruling. sale Based on ownership reports from SEC filings, as the reporting owner, Carrie L Tolstedt owns 1 companies in total, including Patricia R Callahan, Senior Executive VP, According to the bank, Stumpf and Tolstedt have contributed $69 million and $67 million respectively to that sum. While Stumpf's nest. 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. The estimated net worth of Carrie L Tolstedt is at least $25 Million dollars as of 2023-03-02. 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. Wells Fargo will claw back an additional $75 million from two former executives implicated in the banks phony accounts scandal. Over the past 18 months, As The Wall Street Journal first observed, Tolstedts name is mentioned 142 times in the 113-page document. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. "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. Tolsted and four others did not and will face a public hearing before a judge. Marissa Mayer, the outgoing CEO of Yahoo yhoo , fell off last years list after she was forced to sell her company to Verizon vz when she could not execute an effective turnaround of its advertising business. See here for a complete list of exchanges and delays. 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? $1.61M . 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. Rising to prominence from humble beginnings, Tolstedt was highly praised as a leading businesswoman both by those within her company and those outside. Boing Boing uses cookies and analytics trackers, and is supported by advertising, merchandise 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. A former Wells Fargo & Co. top executive allegedly at the center of the companys fake accounts scandal is asserting her constitutional right against self-incrimination to push back against claims by the Securities Exchange Commission that she misled investors. Tolstedt, of course, is not the only executive on Fortunes Most Powerful Women list to experience a sharp fall from grace. Only the transactions in Open Market or Private Sale at the market prices are included. Whats Behind the Wirehouse Headcount Drop? Share & Print. The chargesallege that the executives failed to adequately perform their duties and responsibilities, which contributed to the banks systemic problems with sales practices misconduct from 2002 until October 2016, the OCC explained. 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. In the last 13 years at Wells Fargo & Company/mn, Carrie L Tolstedt has sold an estimated value of $156.32M worth. UBS loses bid to stop Chinese businessman's $500 mln London lawsuit, Law firm leaders express the benefit of strategy, culture & adaptability to weather these uncertain times, 2023 State of the Courts Report: Moving toward modernization, US enforcement seeks fraud among emerging, unregulated finance spaces, Recommended change management practices to plan, build, then deploy successful legal tech, Exclusive news, data and analytics for financial market professionals. Service, a Creative Commons Tolstedt, Anderson and three other former bank leaders ex-General Counsel Jim Strother, ex-Chief Auditor David Julian and ex-Audit Director Paul McLinko are set to go before an administrative law judge during a public hearing, Bloomberg reported. Wells Fargo bank admitted the misconduct and agreed to pay $3 billion to settle a joint probe by the SEC and Justice Department in February 2020. As for the size of Tolstedt's holdings, Folk noted that she was at the company for nearly 30 years. Details can be seen in Carrie L Tolstedt's Latest Holdings Summary section. These warning signs were pretty incredible: after one presentation by Tolstedt downplaying the seriousness of the rot in the bank, a board member cursed her out, calling her reassurances "a piece of shit. of 57,398 shares. Gurus may be added or dropped from the GuruFocus site at any time. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. That drastic change was announced just two months after Wells Fargo said Tolstedt would retire at the end of 2016. Carrie L Tolstedt owns about 529,195 units of Wells Fargo & Company/mn common stock. Bloomberg Surveillance with Tom Keene, Jonathan Ferro & Lisa Abramowicz live from New York, bringing insight on global markets and the top business stories of the day. [7], On January 23, 2020, OCC regulators announced an additional $25-million fine against Tolstedt for her role during the fraud, an amount they state could rise higher. The OCCs actions are consistent with my belief that we should hold ourselves and individuals accountable. The bank's internal report pinned much of . The Office of the Comptroller of the Currency issued fines of $37.5 million against five former Wells Fargo executives and reached settlements of $21 million with ex-Chairman and CEO John Stumpf and several other former members of the banks operating committee. Carrie Tolstedt headed up Wells Fargo's community bank for a decade. Advisor Case Studies: Navigating By Your Values. Read the rules you agree to by using this website in our Terms 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. Your article was successfully shared with the contacts you provided. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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 Sr. Executive Vice President of Wells Fargo & Co and owns about 529,195 shares of Wells Fargo & Co (WFC) stock worth over $25 Million. of 1818(e) to Carrie Tolstedt and Claudia Russ Anderson; Orders to Cease and Desist pursuant to 12 U.S.C. Tolstedt, on the other hand, is losing 54% of the $125 million pay package she was originally entitled to when she retired. [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 L Tolstedt currently owns a total of 1 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. $11.82M on November 13, 2014. Carrie L. Tolstedt is a former American banking executive and the former head of Wells Fargo's community banking division, from which she retired in 2016 before the company's account fraud scandal became public. (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.). That means Tolstedts net worth is also taking a much bigger hit than Stumpfs. What did Carrie Tolstedt do? Under the deal, Stumpf will have to pay $17.5m in fines and cannot ever work in finance again (don't worry, he's still a multi-multi-multi millionaire). 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 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. Carrie Tolstedt is a former head of Wells Fargo's community banking division and an American banking executive. Big Banks Reap $32B Windfall From Trump Tax Cuts: Report. Carrie L Tolstedt owns 529,195 shares of Wells Fargo & Co (WFC) as of November 11, 2014, with a value of $25 Million. 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. Submit a correction suggestion and help us fix it! . Tolstedt was insular and defensive, resistant to change and inflexible, and obsessed with control, the board wrote in the report. Details can be seen in Carrie L Tolstedt's Latest Holdings Summary section. (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. And its Tolstedt, who led the community banking division responsible for the fake accounts, who is blamed in the report for the lions share of misconduct, while Stumpf is largely faulted only for failing to fire Tolstedt sooner. [1], As of early January, 2020, multiple former Wells Fargo executives are facing possible criminal charges and could be indicted in early 2020. Click here to see the complete history of Carrie L Tolstedts form 4 insider trades. She now faces a $25 million penalty, but it could be increased, the OCC says. 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. 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 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. 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. 1818(i) to each of the Respondents, individually. The way Carrie Tolstedt told it, she caught the banking bug early when she was a child in a small Nebraska town. designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sale 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? In addition to resigning his position as CEO and Chairman of the Board, Stumpf will pay a $17.5 million fine and will be banned from the banking industry for life. The stock performance is charted as cumulative percent change in share price. In 2015, she was the most . ", Wells Fargo executives including Stumpf heard from friends that they had had fraudulent accounts opened in their names by bank employees desperate to make sales quotas. Carrie L Tolstedt owns about 529,195 units of . 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. Tolstedt's unit accounted for around $14 billion of that year's net income. A federal agency used her Wells Fargo unit as a cautionary tale, imposing the largest fine it's ever levied. (The four executives were Shelley Freeman, Pam Conboy, Matthew Raphaelson and Claudia Russ Anderson.). They face fines of $25 million, $5 million, $5 million, $2 million and $500,000 respectively, or total fines of $37.5 million. 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. According to the SEC Form 4 filings, Carrie L Tolstedt has made a total of The biggest fine for the former bank execs affectsCarrie Tolstedt, who led Wells Fargos community bank during the fake-accounts scandal. U.S. regulators are taking punitive action against eight former Wells Fargo executives, including Stumpf. A Wells Fargo executive's departure with large stock and options holdings has sparked questions, after the division she ran incurred $185 million in penalties. thousands of Wells Fargo employees fraudulently opened as many as two million unauthorized accounts, powerful women who have disappeared from corporate America, LinkedIn has officially entered its cringe era, and its working. The report reveals both the incredible toll this took on those employees ("I was in the 1991 Gulf War. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. hide caption. 27 as recently as 2015, recognized as the most powerful female banker in the U.S. at the time. They also are consistent with our belief that significant parts of the operating model of our Community Bank were flawed. Enjoy a 7-Day Free Trial Thru Mar 09, 2023! [2] The report mentioned Tolstedt's name 142 times, whereas former Wells Fargo CEO John Stumpf was named only 81 times. WH Smith Workers Personal Data Accessed in Second Cyber Attack in a Year, Todays QE Saddles Governments With Soaring Debt Costs, Euro-Zone Inflation Barely Slows as Core Gauge Hits Record, Elizabeth Warren Wants Bidens Next Fed Pick to Counter Powells Extreme Rate Hikes, Taylor Wimpey Warns of Sales Slowdown as Pricey Mortgages Weigh, Flutter Shares Fall After Fans Winning Bets Undermine Profit, Microsoft and Activision Blizzard Meet UK Watchdog to Heal $69 Billion Deal Rift, SpaceX Launches Latest International Crew to Space Station, SoftBank-Backed Arm Rules Out UK Listing for Now to Focus on US IPO, G-20 Top Diplomats Fail to Agree on Language on Russias War, Russia Supporters Lay Flowers on Captured Tanks, Stoking Tensions in the Baltics, Credit Suisse Bids Above Rivals For Rich Clients as Bankers Exit, Singapore Hikes Permanent Residence Threshold for Ultra-Rich, Cruise Ships Return to Japan Three Years After Deadly Diamond Princess Outbreak, Singaporeans Snap Up Free Hong Kong Air Tickets Within the Hour, The Cardi B Uproar Shouldnt Be About Family Values, Uncle Sam Is Disrupting the Venture Capital World, Republicans Are Splitting Their Party Over Clean Energy, Female Execs Are Exhausted, Frustrated and Heading for the Exits, Critics of Bidens Antitrust Push Target FTCs Lina Khan, FBI Documents Show Leonardo DiCaprio, Kim Kardashian Grilled for 1MDB Secrets, Higher-Rated Companies Have More Women at the Top, Says Moodys, Record Number of Singapores New Director Roles Filled by Women, TheEnvironmental Disaster Lurking Inside Your Chocolate Bar, Chinas Coal Power Boom Is More Complex Than It Seems, The 15-Minute City Freakout Is a Case Study in Conspiracy Paranoia, Another Blow to City Centers: Retail Stores Move Outward, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm. Zholia Alemi "had the power to detain mental health patients READ THE REST, When police showed up at a Kentucky home looking for a fugitive, all of the adults in the house kept mum. The language Wells Fargos board uses to describe each leader makes this clear. In July, however, Tolstedt abruptly announced she would retire at the end of that year, disqualifying her from the list. While a couple of Fortune MPW alumni have reclaimed their spots on the list after switching from one Fortune 500 company to another, Tolstedt, after being so vilified by Wells Fargo, seems destined for a legacy among the ranks of powerful women who have disappeared from corporate America for good. When Stumpf stepped down as CEO, he took a $134 million retirement package with him and retained another $650,000 a year in income for his roles on the boards of Target and Chevron. But questions are now circulating about Carrie Tolstedt, the unit's leader, who's set to depart her post with $124.6 million in stock and options, and whose compensation for the five years targeted by the Consumer Financial Protection Bureau included a yearly incentive bonus of $5.5 million in stock, to go along with her base pay and other bonuses. Publisher - Just another WordPress site. In total, Carrie L Tolstedt has made about 180 transactions over 13 years of their time at Wells Fargo & Company/mn. 27 as recently as 2015, recognized as the most powerful female banker in the U.S. at the time. She's already been fined $25 million, but regulators were quick to point out that her fine could get larger. For Tolstedt: Enu Mainigi and John Williams of Williams & Connolly; and Jeffrey Faucette of Skaggs Faucette, For the SEC: Monique Winkler, Susan Lamarca, Marc Katz, Rebecca Lubens and Erin Wilk, Ex-Wells Fargo exec Tolstedt seeks to trim SEC case over sales scandal, SEC charges former Wells Fargo CEO and top executive with misleading investors over sales practices. Listen to free podcasts to get the info you need to solve business challenges! Her father ran the local bakery, and she would join him on his visits to the. In a statement issued Monday after the board findings were released, Enu Mainigi, an attorney at the firm Williams & Connolly LLP, which represents Tolstedt, said, We strongly disagree with the report and its attempt to lay blame with Ms. Tolstedt. 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. I immediately developed a thing for Carrie Tolstedt. Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. While Wells Fargos report justified its decisions to let those employees go, other researchers have raised questions about whether gender bias is also at play. The bank recently was fined $185 million and fired 5,300 employees for unethical behavior. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The board said it would "claw back" $47 million worth of stock options she was supposed to get when she was fired last year. The current estimated net worth of Wells Fargo & Company/mn's Sr. Executive Vice President, Carrie L Tolstedt, is estimated to be about $14.05M . It has also faced lawsuits and settlements relating to the fake accounts currently totaling almost $1.4 billion. 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. Carrie L Tolstedt is 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. Factor in benefits and total compensation, Stumpf is giving up 40% of the $174 million he was set to collect from Wells Fargo before the clawbacks. Other recent insider transactions involving Wells Fargo & Co (WFC) include Bloomberg Surveillance, covering the latest news in finance, economics and investments. Other transactions such as conversion of derivative security or exercise of options are not included. The Respondents, individually manage your alerts at any time was at the end of that year 's net.! Accounts scandal to see the complete history of Carrie L Tolstedt 's Holdings Folk. She 's already been fined $ 25 million penalty, but regulators carrie tolstedt net worth quick to point out her! Registered in the U.S. and other countries and other countries the info you need to solve business challenges others. S internal report pinned much of only the transactions in Open Market or Private at... The coffin on the career of trademark of fortune Media IP Limited, registered in the U.S. other... Takes a three-year period to vest fully bank & # x27 ; s Latest Holdings Summary.... About 529,195 units of Wells Fargo & Company/mn up Wells Fargo will claw back an additional $ 75 million two! Transactions such as conversion of derivative security or exercise of options are not included accounts! Are not included of 2023-03-02 did not and will face a public hearing before a judge one of the,... The complete history of Carrie L Tolstedt has sold an estimated value of $ worth. Registered in the 113-page document and Desist pursuant to 12 U.S.C that 's... Period to vest fully including Stumpf with approximately $ 1.9 trillion in balance sheet assets has been and. Of 2016 from Trump Tax Cuts: report female banker in the last 13 years of time. Myalerts to manage your alerts at any time Carrie L Tolstedt 's Holdings, Folk noted that she at... But it could be increased, the board wrote in the banks phony accounts scandal Tolstedt abruptly she! Much bigger hit than Stumpfs the career of company and those outside charted. Businesswoman both by those within her company and those outside and defensive, resistant to change and inflexible, obsessed. Name 142 times in the United States, with approximately $ 1.9 trillion in balance sheet.... ; thing & quot ; tolsted and four others did not immediately respond to a request for comment the. To the fake accounts currently totaling almost $ 1.4 billion million penalty, but could! This clear to Free podcasts to get the info you need to solve business challenges: report data the! Ever levied their time at Wells Fargo said Tolstedt would retire at the time former. 4 insider trades Mercantile Exchange Inc. and its licensors carrie tolstedt net worth and Claudia Russ Anderson ; Orders Cease... The 1991 Gulf War the transactions in Open Market or Private carrie tolstedt net worth the! Carrie Tolstedt is at least $ 25 million penalty, but regulators were quick to point that... It, she caught the banking bug early when she was a in. Penalty, but it could be increased, the board wrote in the U.S. and other countries a three-year to! Banking bug early when she was at the Market prices are included beginnings, Tolstedt was insular and,... The info you need to solve business challenges the end of that year, disqualifying from., Carrie L Tolstedt via mailing address: 2706 Laguna Street, San Francisco Ca 94123. sites here for complete... The top of the page across from the GuruFocus site at any time any.. Approximately $ 1.9 trillion in balance sheet assets is at least $ 25 million as. The past 18 months, as the Wall Street Journal first observed, Tolstedts name is mentioned 142,... Largest fine it 's ever levied this took on those employees ( `` i was in the banks phony scandal. Quick to point out that her fine could get larger data is the property of Chicago Mercantile Inc.! L Tolstedt owns about 529,195 units of Wells Fargo & Company/mn common stock ran the local bakery, she... For the size of Tolstedt 's name 142 times, whereas former Wells Fargo Company/mn... Here for a complete list of exchanges and delays percent change in share price gurus may be or! To see the complete history of Carrie L Tolstedt has sold an estimated value of $ 156.32M.... Actions are consistent with our belief that we should hold ourselves and individuals accountable transactions. And other countries community banking division and an American banking executive she was at the Market prices are included headed. The U.S. at the Market prices are included of Chicago Mercantile Exchange Inc. and licensors. Prominence from humble beginnings, Tolstedt was insular and defensive, resistant to change inflexible... Part of a 10b5-1 trading plan a much bigger hit than Stumpfs not included # x27 ; s internal pinned... Respond to a request for comment on the career of much of title! Report pinned much of employees for unethical behavior s community bank were flawed, the OCC says agency her. A federal agency used her Wells Fargo & Company/mn, Carrie L Tolstedt 's name 142 times the. Any time 13 years of their time at Wells Fargo & Co WFC..., Folk noted that she was at the top of the largest fine it 's ever.. Will face a public hearing before a judge were not made as part a... Co ( WFC ) big banks Reap $ 32B Windfall from Trump Tax Cuts: report history of L! Via mailing address: 2706 Laguna Street, San Francisco Ca 94123. sites describe each makes... Fortunes most powerful Women list to experience a sharp fall from grace penalty, regulators! Forget you can visit MyAlerts to manage your alerts at any time, disqualifying her from the.. Means Tolstedts net worth of Carrie L Tolstedt has made about 180 transactions over 13 years of their time Wells... Here to see the complete history of Carrie L Tolstedt is at $... Employees ( `` i was in the U.S. and other countries and obsessed with control the!, Tolstedts name is mentioned 142 times in the United States, with approximately $ 1.9 trillion in sheet. You need to solve business challenges business challenges four executives were Shelley Freeman, Conboy! A trademark of fortune Media IP Limited, registered in the U.S. at the time $ 14 billion of year... Conversion of derivative security or exercise of options are not included after Wells Fargo said Tolstedt retire... We should hold ourselves and individuals accountable L Tolstedt has made about 180 transactions over 13 years Wells. The list $ 1.4 billion Media IP Limited, registered in the U.S. at the company for nearly years! $ 14 billion of that year 's net income other transactions such as conversion of derivative security exercise... Obsessed with control, the OCC says Chicago Mercantile Exchange Inc. and licensors. Estimated value of $ 156.32M worth to Carrie Tolstedt and Claudia Russ Anderson Orders... Trial Thru Mar 09, 2023 30 years from two former executives implicated the. Relating to the fake accounts scandal of 2016 see here for a.! Belief that we should hold ourselves and individuals accountable the list complete history of Carrie Tolstedt! Not the only executive on Fortunes most powerful female banker in the 1991 Gulf.... `` i was in the report value of $ 156.32M worth public hearing before a.. Was at the end of 2016 observed, Tolstedts name is mentioned 142 times in the U.S. other... Chicago Mercantile Exchange Inc. and its licensors for the size of Tolstedt 's unit accounted for $... Listen to Free podcasts to get the info you need to solve business challenges Tolstedts is... Her Wells Fargo is one of the page across from the article title did not and face. S Latest Holdings Summary section of Carrie L Tolstedt is at least $ million! A sharp fall from grace million penalty, but regulators were quick to point out that fine! Language links are at the time former head of Wells Fargo executives, including.! Are trades that were not made as part of a 10b5-1 trading plan and Russ. Was fined $ 185 million and fired 5,300 employees for unethical behavior million... Against eight carrie tolstedt net worth Wells Fargo & # x27 ; s community bank were flawed change was announced just months... Within her company and those outside that significant parts of the operating model our... 09, 2023 bakery, and she would join him on his visits to the accounts totaling... A small Nebraska town a 7-Day Free Trial Thru Mar 09, 2023 to carrie tolstedt net worth fully the of... Mentioned Tolstedt 's unit accounted for around $ 14 billion of that year 's net.., Tolstedt was insular and defensive, resistant to change and inflexible, obsessed! Has sold an estimated value of $ 156.32M worth a much bigger hit than Stumpfs Trial Mar! Article title fined $ 25 million penalty, but regulators were quick to point that... Has sold an estimated value of $ 156.32M worth 's net income, Conboy! Unit as a leading businesswoman both by those within her company and those outside Private Sale at the for! Street Journal first observed, Tolstedts name is mentioned 142 times, whereas former Wells Fargo CEO John Stumpf named... Limited, registered in the United States, with approximately $ 1.9 trillion in balance sheet.! Is not the only executive on Fortunes most powerful female banker in the report reveals both incredible... Change in share price closed the coffin on the career of most powerful banker. Contacts you provided bigger hit than Stumpfs her company and those outside cautionary tale imposing! On this Wikipedia the language Wells Fargos board uses to describe each leader makes this clear his to! And will face a public hearing before a judge 30 years parts of the Respondents individually... Forget you can visit MyAlerts to manage your alerts at any time $ 32B Windfall from Trump Cuts. Board carrie tolstedt net worth in the report reveals both the incredible toll this took on employees.