|John G. Stumpf Quick Info|
|Date of Birth||September 15, 1953|
John G. Stumpf is an American business executive and retail banker who is known for being the former chairman and chief executive officer of Wells Fargo which is one of the Big Four banks of the United States.
John Gerard Stumpf
John G. Stumpf
Pierz, Morrison County, Minnesota, United States
John G. Stumpf attended St. Cloud State University on a provisional basis. Later, he got enrolled at St. Cloud State University in St. Cloud, Minnesota, and obtained a bachelor’s degree in finance.
Also, he studied at Carlson School of Management from where he earned his MBA with an emphasis in finance.
Business Executive, Retail Banker
- Father – He was a dairy farmer.
- Siblings – He has 10 siblings.
6 ft or 183 cm
74 kg or 163 lbs
Girlfriend / Spouse
John G. Stumpf has dated –
- Ruth Spanier
Race / Ethnicity
John G. Stumpf is of German descent on his father’s side and has Polish roots on his mother’s side.
- Arched eyebrows
- Deep-set eyes
He grew up as a Catholic.
John G. Stumpf Facts
- He was raised alongside his siblings on a dairy and poultry farm.
- He has previously worked as a breadmaker in a Pierz bakery.
- Until he got married, John G. Stumpf used to share a bedroom with his brothers.
- He has worked as a repossession agent at First Bank in St. Paul, Minnesota.
- He became an employee of Northwestern National Bank, the flagship bank of Norwest Corporation, in 1982 and eventually became senior vice president and chief credit officer for Norwest Bank, N.A., Minneapolis.
- On June 27, 2006, John G. Stumpf became the director of the National Association and also served as a Member of the Litigation Committee at Visa Inc.
- In June 2007, he was appointed as the CEO of Wells Fargo and then became chairman in January 2010.
- John G. Stumpf was involved in a fake accounts scandal in which he opened 2 million checking and credit-card bank accounts without the consent of its customers. For this, he was fined $100 million by the Consumer Financial Protection Bureau, $50 million by the Office of the Comptroller of the Currency, and $35 million by the city and county of Los Angeles in September 2016.
- He was also accused of cross-selling customers multiple accounts fraudulently when they did not need them and using those results on quarterly reports for larger returns on Wells Fargo stock holdings.
- He agreed to a lifetime ban from the banking industry as well as a $17.5 million fine for his role in the fake account scandal on January 23, 2020.
Featured Image by Justin Ruckman / Flickr / CC BY 2.0