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Wells Fargo's new chief pledges more cost cuts as profit slumps

Wells Fargo & Co's profit slumped 55% in the fourth quarter as new boss Charles Scharf set aside another $1.5 billion for legal costs related to the bank's sales scandal and promised "fundamental changes." [Source]

Publication Date:

Origin: reuters.com

Category: businessNews

Topics: Wells, profit, quarter, slumped, Charles, fourth, Fargo, slumps, Fargo's, chief, pledges, Scharf, aside, scandal, promised, "fundamental, changes, sales, bank's, another, billion, legal, related, costs

Source: http://feeds.reuters.com/~r/reuters/businessNews/~3/M0eU4RwvR8I/wells-fargos-new-chief-pledges-more-cost-cuts-as-profit-slumps-idUSKBN1ZD1MK

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