John Stumpf Net Worth is$50 Million
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Date of Birth: 1953
Nicknames: John Stumpf
John Stumpf is an American executive with a net worth of $50 million. John Stumpf acquired that net worth the Chairman, President and CEO of Wells Fargo & Company. He is also a member of the National Republican Congressional Committee. Stumpf is from Pierz, Minnesota and earned an MBA from University of Minnesota.
John Stumpf (born 1953) became Chairman for Wells Fargo & Company in January 2010. He was named Chief Executive Officer in June 2007, elected to Wells Fargo's Board of Directors in June 2006, and has been President since August 2005.
A Pierz, Minnesota native, Stumpf grew up as one of 11 children on a dairy and poultry farm. His father was a dairy farmer. Stumpf shared a bedroom with his brothers until he was married. Stumpf graduated in the bottom half of his high school class. His bad grades, combined with his limited family finances, resulted in Stumpf obtaining a job as a breadmaker in a Pierz bakery. After a year, Stumpf enrolled in St. Cloud State University on a provisional basis. He eventually obtained a job as a reposession agent at First Bank in St. Paul, Minnesota.
Stumpf earned his bachelor's degree in finance from St. Cloud State University, St. Cloud, Minnesota and his MBA with an emphasis in finance from the University of Minnesota.
Stumpf joined Northwestern National Bank, the former Norwest Corporation and predecessor of Wells Fargo, in 1982 in the loan administration department and then became senior vice president and chief credit officer for Norwest Bank, N.A., Minneapolis. He held a number of management positions at Norwest Bank Minneapolis and Norwest Bank Minnesota before assuming responsibility for Norwest Bank Arizona in 1989. He was named regional president for Norwest Banks in Colorado/Arizona in 1991. From 1994 to 1998, he was regional president for Norwest Bank Texas. During his four years in that position, he led Norwest's acquisition of 30 Texas banks with total assets of more than $13 billion.
In 1998, with the merger of Norwest Corporation and Wells Fargo & Company, he became head of the Southwestern Banking Group (Arizona, New Mexico and Texas). Two years later he became head of the new Western Banking Group (Arizona, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming). In 2000, he led the i

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John Stumpf Latest News

John Stumpf Resigns From Boards of Target and Chevron

John Stumpf, who stepped down as Wells Fargo WFC 1.01 % & Co. Chairman and Chief Executive last week, has resigned from the boards of Target Corp. TGT 0.18 % and Chevron Corp. CVX 0.42 %, effective immediately. Mr. Stumpf left Wells Fargo after criticism ...
Posted: October 18, 2016, 2:30 pm

What Effect Will The Wells Fargo Fake Accounts Scandal Have On The Bank's Commercial Lending?

The bank has since fired 5,300 employees and CEO John Stumpf later resigned as well, following his testimony before the Senate Banking, Housing and Urban Affairs Committee last month over the unauthorized accounts and outcry over his continued reign.
Posted: October 27, 2016, 5:26 am

Wells Fargo's new PR offensive promises customers much, but offers them little

The bank didn’t admit or deny the charges, but its chairman and chief executive officer, John Stumpf, has lost his job. He’s been replaced as CEO by Tim Sloan, a 29-year veteran of the company’s management, some of them as Stumpf’s right hand man ...
Posted: October 27, 2016, 5:58 am
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