Despite woes, Wells Fargo gives CEO Sloan $4.6 million raise - Spokane, North Idaho News & Weather KHQ.com

Despite woes, Wells Fargo gives CEO Sloan $4.6 million raise

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NEW YORK, NY -

Well Fargo's board of directors has given CEO Tim Sloan a $4.6 million raise, despite the bank continuing to face the fallout of its sales-practices scandal and other issues.
  
In its annual proxy to shareholders, Wells Fargo said Wednesday that Sloan made $17.6 million last year, up from $13 million in 2016. While Sloan did not get a cash bonus in 2017, the value of the Wells Fargo stock awarded him rose to $15 million from $10.5 million.
  
John Shrewsberry, the bank's chief financial officer, saw his total compensation increase to $11.9 million in 2017 from $9.3 million in 2016.
  
San Francisco-based Wells Fargo is facing several investigations into its business, most notably its opening of millions of fake accounts without getting customers' authorization.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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