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Former Fed Governor Named Chairman of Wells Fargo

Phil Hall
Aug 16, 2017
Wells Fargo, the largest mortgage lender and third largest bank in the nation, is planning to cut between five and 10 percent of its workforce over the next three years

Former Fed Governor Named Chairman of Wells FargoWells Fargo has named former Federal Reserve Governor Elizabeth Duke to become its next chairman, effective Jan. 1. With this appointment, Duke makes history as the first woman to chair a major national bank.
Duke succeeds Stephen W. Sanger, whose oversaw the bank during recent scandals related to its retail banking operations. Duke has served on the Wells Fargo board since January 2015 and was named vice chairman in October 2016.
Duke served at the Federal Reserve from 2008 to 2013. Before that, she held several banking industry executive positions, including president and CEO of Bank of Tidewater and senior executive vice president and chief operating officer at TowneBank.

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