John Stumpf bio

Marketplace Staff Jun 10, 2008

John S. Stumpf

A 26-year veteran of Wells Fargo & Company, John G. Stumpf was named chief executive officer in June 2007, after serving as president since August 2005. The appointment had been long expected, as it was an open secret that Stumpf was next in the line of succession following his mentor and then CEO Richard M Kovacevich.

Stumpf has long been honing his craft to head one of the largest banks in the United States. A Minnesota native, he earned his bachelor’s degree in finance from St. Cloud State University and his MBA with an emphasis in finance from the University of Minnesota. He rose through the ranks at Norwest Corporation, holding such distinguished positions as regional president and senior vice president in various regional offices. Stumpf became head of the Southwestern Banking Group after Norwest’s merger with Wells Fargo.

Stumpf serves on the board of directors for the Clearing House, the Bay Area chapter of Junior Achievement, the San Francisco Committee and on many other organizations. Stumpf is also on the board of trustees of the San Francisco Museum of Modern Art.

Outside of the corner office, Stumpf enjoys baking and playing bridge. One of his regular bridge competitors is Warren Buffet, the largest shareholder of Wells Fargo.

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