My prediction is that SVB will become the next CEO in October.
Vote up if you agree
Vote down if you disagree
25 replies (most recent on top)
SVB = Saul Van Buren I assume.
How do I not know who SVB is?
Probably too soon for CS to get axed and too soon for SVB. SVB needs 2? years running CSBB minimum.
Considering that the vast majority of people shart has hired are completely incompetent, evil, or both, when/if SvB becomes CEO at least he won't be soiled by that failed exec.
I love SVB! He’s the best
Post ID: @ibo+1oIJq6ke
My bad. Thanks for the catch.
I still say “nope” for all the other reasons listed.
SVB or AW3. Either could run this place better.
CS didn’t hire SVB. SVB was hired in Apr 2019 by Sloan. CS was hired after in Oct 2019.
He has nowhere to go but up. I'll try to forget about the ServiceNow debacle. Now let me take a sip of my coffee....
- and Teams, etc.
the board does not care about you and me. they are members of other companies multimillionaires in their own right. there goal is to establish a functioning bank that makes money for themselves. unfortunately, that is the case.
the problem we all have on this board, and this is just an observation for myself as well, is that we are not in the bottom 10% of human beings. We are somewhere near the top 80% percentile and live better than 99% of human beings that have roamed this world in the past.
we want more and that is in our desire to survive. but at some point we need to start thinking how those guys think. i learned early in my career that business is not going to change for me that i need to change with the business. i would have been gone but attrition and hiring is at a halt. it will take a few years if we can survive.
Nope, not for this October. I suspect he’s being groomed for CEO at some point but WF is in shambles right now! Everyone knows it and at this point the Board should realize they/we NEED a leader with proven success of remediating regulatory issues and not just a penny pincher. SVB has experience as only a business group CEO but not of a whole corporation.
And quite frankly, if CS willingly leaves with the job undone, the Board would have to be mo--ns to replace him with one of his hand picked cronies. He couldn’t get it done but his pick can? Doesn’t add up to me. Maybe interim CEO but I still think CS is only leaving if he’s shown the door (which SHOULD happen!)
It would be hilariously foolish to promote Powell, so, very on brand.
He should be gone when Shart leaves, he has proven he is not a leader, only a follower. Also he is immensely disliked by large amounts of people in senior leadership who see him for what he is.
I was thinking Scott Powell and if that is the case there will be no fundamental change in RTO.
@lhd+1oIJq6ke SVB was not brought in to fix the scandals in the business. Not sure what you’re thinking there. He ran tech. Not business process and practices
I doubt that SVB will be the next CEO. The bank can't seem to get away from its scandalous practices -- first creating credit card accounts and then WIM creating bank accounts. Wasn't SVB brought in to correct these?
SVB did bring in ServiceNOW. But like most implementations Wells doesn't know how. Put in an overly complicated process model you get the current change request ServiceNow process. Its just not using the tool -- it is how you use the tool and what you put in the tool. GIGO.
Since Wells can't seem to be able to purchase tool's they make their own. Which is what they did with Fargo -- Well's AI..iii. In a couple of years it will be interesting to compare "Fargo" to Capital One's use of ServiceNow Virtual Agent. Capital One uses ServiceNow to provide 24/7 customer support for its online banking platform. Virtual Agent can answer customer questions about account balances, transactions, and other banking services. It can also help customers troubleshoot problems and reset their passwords.
Lesson: Wells hardly ever purchases solutions. And when they do they only do partially. Instead they create their own solutions. In either case they fill the solution with overly complicated, unproven banking processes. These mistakes permit (lead to?) the scandals.
I am so glad this bank laid me off.
but Charlie's appearance is before earnings vs after like he usually does with the exception of last quarter where he did nothing and has been hiding until now. signs point to something being up. whether it's a leadership change at the top is TBD
I am SVB, and I approve this message!
He doesn't seem to be an RTO zealot, he approved a lot of exceptions IIRC. I'd be willing to listen, but that's all I'm gonna promise. Shart and that POS SP, have done serious damage to this company and I refuse to listen to a word from their mouths. Whomever replaces the current failure will have a lot of work to do to mend the exec / worker relationship.
Warren Buffet would have approved
He reminds me of CEO from Bank of America who was head of Legal before he became the CEO and revived that Bank.
SBV, please bring back the "Team Member", PACA and 8-tracks while you are at it....
He has nowhere to go but up. I'll try to forget about the ServiceNow debacle. Now let me take a sip of my coffee....
Yeah, my bet is on SVB. He knows the tech stuff, which is where we’re all headed, and the biz stuff. Excellent communicator. Not sure what he’s like to his directs as there was a lot of turnover but the teams liked him.
SVB the only OC member with a clue on leadership. Given the historical star of poor leadership in this company, I’d take a gamble on SVB even if he’s not a traditional banker business guy. He’s a good leader and engaged. Has a vision. Can execute the vision. All you can ask for.
Doubtful. Scharf is making an October appearance.