Make us your home page
Instagram

Fighting scandal, Wells Fargo cuts regional execs including Tampa head

Wells Fargo, seeking to trim $4 billion in expenses and put to rest a fake-accounts scandal in its community bank, shuffled its retail banking leadership, cutting 69 of its regional bank leaders. The consolidation shrinks Wells regional executives to 91 from 160.

One of those casualties was Tampa-based David Guzman, a 15-year veteran of Wells Fargo and since 2013 regional president and executive vice president for West Florida community banking.

Taking Guzman's place is Joe Atkinson, who previously served as South Florida region president for Wells. Atkinson will relocate to Tampa. Before running South Florida for Wells, Atkinson served as the bank's greater Georgia north community bank president, and earlier worked in Texas.

"Change is hard, yet change is necessary to make sure we are well positioned for the future," Mary Mack, head of Wells Fargo's giant retail bank, said Friday in a memo to staff. "In order to truly be better, we must put the right structure in place."

The memo was confirmed by Wells Fargo spokesman Michael Gray.

PREVIOUS COVERAGE: Wells Fargo charged 800,000 for unnecessary auto insurance, internal report says

Wells Fargo's community-banking division, which houses the retail bank, has generated weaker profit since September when Wells Fargo was fined $185 million because employees had been opening accounts for more than a half decade without customers' permission. Last week, another scandal was revealed in which the bank had charged as many as 800,000 customers for auto insurance they didn't need.

Wells Fargo holds the second largest market share of banking deposits in Florida and the Tampa Bay area behind Bank of America.

Fighting scandal, Wells Fargo cuts regional execs including Tampa head 07/31/17 [Last modified: Tuesday, August 1, 2017 12:41am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. A meatless burger that tastes like meat? Ciccio Restaurants will serve the Impossible Burger.

    Food & Dining

    TAMPA — The most red-hot hamburger in the nation right now contains no meat.

    Luis Flores, executive chef at Ciccio Restaurant Group, prepares an Impossible Burger at Epicurean Hotel's Food Theatre. Impossible Burger is a plant-based burger that will launch on Sept. 27, 2017 in all the Ciccio Restaurant Group locations, except for Fresh Kitchen. "This burger caters to the carnivorous, not just the vegetarians" said Jeff Gigante, co-founder at Ciccio Restaurant Group. ALESSANDRA DA PRA  |   Times
  2. Construction starts on USF medical school, the first piece of Tampa's Water Street project

    Health

    TAMPA — Dozens of workers in hard hats and boots were busy at work at the corner of South Meridian Avenue and Channelside Drive Wednesday morning, signaling the start of construction on the University of South Florida's new Morsani College of Medicine and Heart Institute.

    Construction is underway for the new Morsani College of Medicine and USF Health Heart Institute in downtown Tampa. This view is from atop Amalie Arena, where local officials gathered Wednesday to celebrate the first piece of what will be the new Water Street District. The USF building is expected to open in late 2019. [ALESSANDRA DA PRA  |   Times]
  3. Tampa Bay among top 25 metro areas with fastest growing economies

    Economic Development

    Tampa Bay had the 24th fastest growing economy among 382 metro areas in the country for 2016. According to an analysis by the U.S. Bureau of Economic Analysis, Tampa Bay's gross domestic product, or GDP, increased 4.2 percent from 2015 to 2016 to hit $126.2 billion.

    Tampa Bay had the 24th fastest growing economy in the country for 2016. Rentals were one of the areas that contributed to Tampa Bay's GDP growth. Pictured is attorney David Eaton in front of his rental home. 
[SCOTT KEELER | Times]
  4. Tampa Bay cools down to more moderate home price increases

    Real Estate

    The increase in home prices throughout much of the Tampa Bay area is definitely slowing from the torrid rate a year ago.

    This home close to Bayshore Boulevard in Tampa sold for $3.055 million in August, making it Hillsborough County's top sale of the month. [Courtesy of Bredt Cobitz]
  5. With successful jewelry line, Durant High alum Carley Ochs enjoys 'incredible ride'

    Business

    BRANDON

    As a child Carley Ochs played dress up, draped in her grandmother's furs.

    Founder Carley Ochs poses for a portrait in her Ford Bronco at the Bourbon & Boweties warehouse in Brandon, Fla. on September 19, 2017. Ochs is a Durant High and Florida State University graduate.