Timothy J. Sloan
Timothy J. Sloan | |
|---|---|
| Born | Template:Birth year and age |
| Nationality | American |
| Occupation | Banking executive |
| Years active | –2019 |
| Known for | CEO of Wells Fargo (2016–2019) |
Timothy J. Sloan (born 1959/60) is an American banking executive who led Wells Fargo as CEO from October 2016 until his departure in March 2019, a move prompted by fallout from the account fraud controversy. Prior to his CEO role, he served as chief financial officer (CFO) and chief operating officer (COO).
Education
Sloan holds a Bachelor of Arts degree in economics and history, along with a Master of Business Administration specializing in finance and accounting, both obtained from the University of Michigan–Ann Arbor.
Career
His career began as a bank teller at Standard Federal Savings and Loan Association in Ann Arbor during summer breaks while attending college. In 1984, he joined Continental Illinois National Bank and Trust, and three years later, he transitioned to Wells Fargo, where he climbed the ranks to become president and COO by November 2015.
Consumer Financial Scandals
On March 28, 2019, Sloan declared his intention to step down as Wells Fargo's CEO effective June 30, 2019. His tenure of approximately two and a half years was marked by multiple scandals that attracted scrutiny from U.S. regulatory bodies and calls from Congress for his resignation.
The Netflix documentary series Dirty Money portrayed an incident in which Sloan avoided shaking hands with a former employee prior to testimony; his resignation followed within two weeks.
Personal life
Sloan is married and has three grown children. He lives in San Marino, California, a suburb within the Los Angeles metropolitan area.