Months after it came to light that Wells Fargo employees created as many as 2 million fraudulent accounts in the names of bank customers without permission, the company announced Tuesday that it has fired four senior managers. They will not receive a bonus for 2016 and will forfeit their unvested equity awards and vested outstanding options, Wells Fargo said.
The board unanimously agreed to terminate Shelley Freeman, former Los Angeles regional president and current head of consumer credit solutions; Pamela Conboy, Arizona lead regional president; Matthew Raphaelson, head of community bank strategy and initiatives; and Claudia Russ Anderson, former community bank chief risk officer. Wells Fargo did not explain how the fired executives were connected to the unauthorized accounts scandal.
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