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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wells Fargo and Company | NYSE:WFC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.15 | 0.25% | 59.98 | 60.258 | 59.12 | 60.09 | 17,293,091 | 22:59:53 |
By Angela Chen
Wells Fargo Co. has elected a former member of the Federal Reserve system's board of governors, Elizabeth A. Duke, to its own board effective Jan. 1.
Ms. Duke "has more than 30 years of experience leading banking operations in markets where Wells Fargo does business," Chief Executive John Stumpf said in a statement.
Most recently, Ms. Duke was executive-in-residence at her alma mater, Old Dominion University. She has also held senior leadership positions, such as chief executive of the Bank of Tidewater, chief operating officer of TowneBank and was a senior officer at SouthTrust Bank and Wachovia Bank N.A.
Wachovia, SouthTrust and Bank of Tidewater have all become part of Wells Fargo.
From 2008 to 2013, she was on the board of the Federal Reserve System, where she was chair of its committee on consumer and community affairs.
San Francisco-based Wells Fargo, the nation's largest bank by market capitalization, has seen its shares rise almost 18% this year, outperforming rivals such as J.P. Morgan Chase, Citigroup, Bank of America and Morgan Stanley.
However, results in the latest quarter disappointed investors as the company's net interest margin--a key profitability figure that measures the difference between what a bank makes on lending and what it pays depositors--narrowed from previous years.
Write to Angela Chen at angela.chen@dowjones.com
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