Months after it came to light that Wells Fargo employees created as many as 2 million accounts in the names of their customers without permission, the company announced Tuesday that it has fired four senior managers, who will not receive a bonus for 2016 and will forfeit their unvested equity awards and vested outstanding options. The board unanimously agreed to terminate Shelley Freeman, former Los Angeles regional president and current head of consumer credit solutions; Pamela Conboy, Arizona lead regional president; Matthew Raphaelson, head of community bank strategy and initiatives; and Claudia Russ Anderson, former community bank chief risk officer.
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Ben Gran is a freelance contributor for Forbes Advisor on banking. He also writes for The Ascent (a Motley Fool service), where he covers insurance, credit cards, personal finance and investing.
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