Date of Birth: September 15, 1953
Zodiac Sign: Virgo
Biography
John Gerard Stumpf is an American businessman known for his tenure as the CEO of Wells Fargo, one of the largest banks in the United States. Born in Pierz, Minnesota, Stumpf grew up on a dairy and poultry farm as one of 11 children. He earned a bachelor’s degree in finance from St. Cloud State University and an MBA from the University of Minnesota. Stumpf joined Northwestern National Bank, the predecessor to Wells Fargo, in 1982 and climbed the corporate ladder over the years. He became CEO of Wells Fargo in 2007 and led the bank through the financial crisis of 2008. However, his leadership came under scrutiny following the 2016 scandal where employees created millions of fake accounts to meet sales targets. Stumpf resigned later that year amid the controversy. Despite the scandal, he was recognized for his efforts in expanding Wells Fargo’s footprint and for his strategic decisions that contributed to the bank’s growth.
5 Interesting Facts about John Stumpf
1. John Stumpf grew up as one of 11 children on a dairy and poultry farm in Minnesota.
2. Stumpf was the first in his family to attend college, earning his degree in finance from St. Cloud State University.
3. He played a significant role in Wells Fargo’s acquisition of Wachovia in 2008.
4. Stumpf testified before Congress in 2016 regarding the fraudulent accounts scandal at Wells Fargo.
5. Despite the scandal, Stumpf was known for his strategic acumen in banking and was named “Banker of the Year” in 2013 by American Banker.
5 Most Interesting Quotes from John Stumpf
1. “I am deeply sorry that we failed to fulfill our responsibility to our customers, to our team members, and to the American public.”
2. “At Wells Fargo, we have always been about our team members and our customers.”
3. “It is a privilege to lead this company, but it is clear that we have much to do to restore the trust of our customers, team members, and shareholders.”
4. “We have the best team in banking, and I am confident that we will get through this and be better for it.”
5. “Leadership is about taking responsibility, not making excuses.”
Highest Net Worth Achieved
At his peak, John Stumpf’s net worth was estimated to be around $50 million.
Children
John Stumpf and his wife, Ruth, have three children. Details about their individual lives and careers are kept relatively private.
Relevant Links
1. [John Stumpf – Wikipedia](https://en.wikipedia.org/wiki/John_Stumpf
2. [John Stumpf’s Biography – Forbes](https://www.forbes.com/profile/john-stumpf/
