Wells Fargo likely to name former Fed official to lead board

Wells Fargo likely to name former Fed official to lead board

Former Federal Reserve Governor Betsy Duke is likely to be named chairwoman of the board at Wells Fargo & Co., according to Reuters, who cites investors, analysts and two people with knowledge of board discussions. The news follows a report from The Wall Street Journal that says current chairman Stephen Sanger will step down by early September. Duke, a former community banker, became a Wells Fargo director in 2015, and was named vice chair last year after a fake-account scandal erupted at the bank.

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