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Warren Buffett urges Wells Fargo to step outside Wall Street for next CEO: FT By Reuters




© Reuters. PHOTO PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc., plotting to play the bridge in an annual meeting with a company in Omaha (Reuters) – Warren Buffett, Wells Fargo The largest shareholder called the bank in an interview with & # 39; s Financial Times on Sunday to watch outside of Wall Street for a new CEO.

"They just have to be from somewhere (outside Wells) and they should not come from the wall. They probably should not come from JPMorgan (NYSE 🙂 or Goldman Sachs," Buffett said.

"There are many good people to manage it (from Wall Street banks), but they are automatically going to attract a significant portion of the Senate and the House of Representatives of the United States, and this is simply not reasonable,

Wells Fargo, JPMorganChase and Co. and Goldman Sachs Group [1

9659004] Inc (NYSE 🙂 were not immediately available for comments outside regular working hours.

Tim Elephant, retired as executive director of Wells Fargo last month, became the second CEO who left the bank during a large-scale sales scandal.

The company's board said in a speech at the time when he came to the conclusion that it was best to look for an outside candidate to replace Sloan.

The Bank's General Advocate, S. Allen Parker, one of the few newcomers in the highest ranks of the bank, serves as a temporary executive director.

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