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John Stumpf was named Chief Executive Officer in June 2007 elected to Wells Fargo’s Board of Directors in June 2006 and has been President since August 2005.
A 25-year veteran of the company he joined the former Norwest Corporation (predecessor of Wells Fargo) in 1982 in the loan administration department and then became senior vice president and chief credit officer for Norwest Bank N.A. Minneapolis. He held a number of management positions at Norwest Bank Minneapolis and Norwest Bank Minnesota before assuming responsibility for Norwest Bank Arizona in 1989. He was named regional president for Norwest Banks in Colorado/Arizona in 1991. From 1994 to 1998 he was regional president for Norwest Bank Texas. During his four years in that position he led Norwest’s acquisition of 30 Texas banks with total assets of more than $13 billion.
In 1998 with the merger of Norwest Corporation and Wells Fargo & Company he became head of the Southwestern Banking Group (Arizona New Mexico and Texas). Two years later he became head of the new Western Banking Group (Arizona Colorado Idaho Nevada New Mexico Oregon Texas Utah Washington and Wyoming). In 2000 he led the integration of Wells Fargo’s acquisition of the $23 billion First Security Corporation based in Salt Lake City. In May 2002 he was named Group EVP of Community Banking.
He serves as Chairman of the Board of Directors for Visa U.S.A Inc. He also serves on the Board of Directors for Visa International The Clearing House the Bay Area chapter of Junior Achievement the San Francisco Committee on JOBS the Board of Trustees of the San Francisco Museum of Modern Art and The Carlson School of Management at the University of Minnesota. He is also a member of the California Business Roundtable and the Financial Services Roundtable.
A Minnesota native he earned his bachelor’s degree in finance from St. Cloud State University St. Cloud Minnesota and his MBA with an emphasis in finance from the University of Minnesota. | 