Wells Fargo CEO John Stumpf is retiring and being replaced by COO Tim Sloan, a bank veteran, raising questions about just how much the bank will change in the wake of its fake account scandal. “Given the culture issues and perhaps a certain level of board dysfunction which recent events have highlighted at the bank, one has to ask the question whether or not a 29-year insider at the bank is really the person to set things straight,” said Michael Ingram, a market analyst with BGC Partners, based in London, referring to Mr. Sloan. TheStreet’s Scott Gamm reports from Wall Street.
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