Hold Wells Fargo responsible: Wells Fargo CEO Scharf’s pay drops nearly 12% in 2020

From Fox Business:

Wells Fargo Chief Executive Officer Charles Scharf’s annual pay fell by about $3 million, or 12%, in 2020, a regulatory filing showed on Friday.

Scharf will receive $20.3 million for his work during the year, compared with $23 million in 2019, the bank said. Scharf, who served as a top lieutenant to JPMorgan Chase CEO Jamie Dimon during the financial crisis of 2008, took over the reins at Wells Fargo in 2019.

GOLDMAN CEO DAVID SOLOMON TAKES $10M PAY CUT FOR MALAYSIAN INVESTMENT SCANDAL

The fall in Scharf’s pay compares with a 36% drop in Goldman Sachs Chief Executive David Solomon’s salary and a 20% jump in compensation for Morgan Stanley ‘s top boss James Gorman. JP Morgan held CEO Dimon’s annual pay at $31.5 million.

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