John Stumpf

John Stumpf (born 1953) is president and chief executive officer of Wells Fargo & Company.

A Minnesota native, Stumpf received his BS degree in finance from Saint Cloud State University and his MBA in finance from the University of Minnesota. He joined Norwest Corporation in 1982 as 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 as president of 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 executive vice president of Community Banking.

Named president and chief operating officer of Wells Fargo in August 2005, Stumpf was elected to the board of directors in June 2006 and chief executive officer on June 27, 2007. While CEO of Wells Fargo in 2007, John G. Stumpf earned a total compensation of $11,447,960, which included an annualized base salary of $749,615, a cash bonus of $4,200,000, and options granted of $6,061,488. In 2008, he earned a total compensation of $9,041,087, which included a base salary of $878,920, and options granted of $7,920,000.

He serves as Chairman of the Board of Directors for Visa USA, 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 and the Board of Trustees of the San Francisco Museum of Modern Art. He is also a member of the California Business Roundtable and the Financial Services Roundtable.

In the political realm, Stumpf has been a member of the National Republican Congressional Committee and the New Leadership for America Political Action Committee.

References

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