Wells Fargo’s consumer and small-business banking head, Mary Mack, announced last week that she will retire in May. Mack was running Wells’ brokerage business when she was called on to replace Carrie Tolstedt, who was the executive most responsible for the bank’s fake-account scandal. Mack was asked to take on the toughest job in banking: a huge network of employees who needed to be indoctrinated in a new culture of customer care. Mack did a great job, survived a couple of CEO changes, and is just a terrific person. I hope Wells Fargo honors her for accomplishing an impossible and thankless job. If I were the CEO, I would have a statue of her placed in front of the company’s regional headquarters in Charlotte.
A great banker bids farewell
By Thomas K. Brown,
Wells Fargo’s consumer and small-business banking head, Mary Mack, announced last week that she will retire in May. Mack was running Wells’ brokerage business when she was called on to replace Carrie Tolstedt, who was the executive most responsible for the bank’s fake-account scandal. Mack was asked to take on the toughest job in banking: a huge network of employees who needed to be indoctrinated in a new culture of customer care. Mack did a great job, survived a couple of CEO changes, and is just a terrific person. I hope Wells Fargo honors her for accomplishing an impossible and thankless job. If I were the CEO, I would have a statue of her placed in front of the company’s regional headquarters in Charlotte.