Analysis

Wells Fargo's CEO Search Won't Bring Quick Fixes

Law360 (March 29, 2019, 9:45 PM EDT) -- Wells Fargo & Co. is on the hunt for a new leader after announcing that CEO Timothy Sloan is heading for the exit, but industry-watchers don’t expect the pressure facing the scandal-plagued bank from regulators, lawmakers and consumer advocates to leave with him.

The California-based banking giant made waves Thursday when it disclosed that Sloan will retire this summer but is stepping down immediately as chief executive officer, ending a two-and-a-half-year tenure that has been marked by exceptional turbulence for the bank.

Since it was accused in 2016 of having created millions of unauthorized customer accounts, a litany of additional compliance and...

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