Wells Fargo Names BNY Mellon's Scharf as CEO

Charles W. Scharf is appointed as the new CEO of Wells Fargo, effective October 21st. Previously CEO of Visa and Bank of New York Mellon, Scharf is expected to address the challenges faced by Wells Fargo, including the fake account scandal. His diverse background and experience with regulators make him a suitable choice. Warren Buffett's support is noted, and Scharf's role involves cleaning up the bank and dealing with regulatory issues.

Who was appointed as the new CEO of Wells Fargo?

• Jane Fraser

• Jamie Dimon

• Charles W. Scharf

• Cathy Bessant

What major issue did Wells Fargo face that required a leadership change?

• A cybersecurity breach

• A decline in stock prices

• A fake account scandal

• A merger with another bank

Who stepped in as interim leader before Charles Scharf's appointment?

• Tim Sloan

• Alan Parker

• Warren Buffett

• Jane Fraser

What is one of the key tasks for Charles Scharf as the new CEO?

• Launching a new product line

• Dealing with regulators

• Merging with another bank

• Expanding into new markets

Which major investor is supportive of Charles Scharf's appointment?

• Jeff Bezos

• Warren Buffett

• Bill Gates

• Elon Musk