Where Will Wells Fargo Be In 3 Years?
There has been a lot of speculation about the future of Wells Fargo (NYSE: WFC), given that the bank is currently in the midst of a turnaround story that shareholders are starting to rally behind. It has not been easy since the bank's phony-accounts scandal came to light in 2016, in which employees at the bank opened banking and credit card accounts without the consent of customers and sent the bank's future into disarray.
But after six grueling years and a lot of changes at the bank, let's take a look at where Wells Fargo could be in three years.
Since taking over as CEO in 2019, Charlie Scharf has long made it clear that Wells Fargo could benefit from becoming a more efficient operation. In early 2021, Scharf announced a large cost-cutting initiative in an effort to realize $8 billion of gross cost savings over a three- to four-year period.
Source Fool.com
