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

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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