Charlie Scharf inherited one of the toughest jobs in corporate America when he became CEO of Wells Fargo in 2019. His mandate? Rebuild a disgraced brand, navigate regulatory shackles, and restore faith in a bank many thought was beyond saving. Six years later, he’s largely done it. The Federal Reserve’s decision in June to lift the asset cap—a penalty that had hobbled Wells for years—marked the clearest sign that the turnaround worked, writes my colleague Shawn Tully.
Scharf’s turnaround playbook has centered on three principles.
