Until he got married, John G. Stumpf used to share a bedroom with his brothers. If you continue to use this site we will assume that you are happy with it. Have you ever wondered how rich John Stumpf is, as of mid-2016? He was raised alongside his siblings on a dairy and poultry farm. [8] In 2012, Stumpf's total compensation was $22.87 million with a base salary of $2.8 million, $3,300,000 in cash bonuses, $12.5 million in stock granted, and $15,000 in other compensation. May Bell Height, Weight, Age, Body Statistics, Robert Kardashian Height, Weight, Age, Body Statistics, Justin Chon Height, Weight, Age, Body Statistics, Jason Isbell Height, Weight, Age, Body Statistics, Ruth Bell Height, Weight, Age, Body Statistics, Lauren Cimorelli Height, Weight, Age, Body Statistics, Rapper Russ Height, Weight, Age, Body Statistics. [12][13][14] He was grilled by angry lawmakers on Capitol Hill in hearings before the U.S. Senate Banking Committee as well as the House Financial Services Committee. John Stumpf was raised in a big Catholic family on a dairy farm, one of 11 children born to Herb Stumpf, who was a dairy farmer, and his mother, Elvira Stumpf. Cloud State University, Steve Stumpf, Jessie Stumpf, Claude Stumpf, Joel Stumpf, Sunday Morning Futures with Maria Bartiromo. [7], Stumpf became CEO of Wells Fargo in June 2007 and its chairman in January 2010. After a year, Stumpf enrolled in St. Cloud, Minnesota, and obtained a bachelor’s degree in finance. After a year, Stumpf enrolled in St. He was also accused of cross-selling customers multiple accounts fraudulently when they did not need them and using those results on quarterly reports for larger returns on Wells Fargo stock holdings. He has worked as a repossession agent at First Bank in St. Paul, Minnesota. Also, he studied at Carlson School of Management from where he earned his MBA with an emphasis in finance. He became an employee of Northwestern National Bank, the flagship bank of Norwest Corporation, in 1982 and eventually became senior vice president and chief credit officer for Norwest Bank, N.A., Minneapolis. Genealogy profile for John Stumpf John Stumpf (1753 - 1816) - Genealogy Genealogy for John Stumpf (1753 - 1816) family tree on Geni, with over 190 million profiles of ancestors and living relatives. John G. Stumpf is an American business executive and retail banker who is known for being the former chairman and chief executive officer of Wells Fargo which is one of the Big Four banks of the United States. [21] His bad grades, combined with his limited family finances, resulted in Stumpf obtaining a job as a breadmaker in a Pierz bakery. On June 27, 2006, John G. Stumpf became the director of the National Association and also served as a Member of the Litigation Committee at Visa Inc. According to authoritative sources, it has been estimated that the total size of John’s net worth is as high as $50 million, which has been accumulated through his successful career as a businessman and banker, and is likely to increase as his annual salary is equal to $23 million per year. In 2000, he led the integration of Wells Fargo's acquisition of the $23 billion First Security Corporation, based in Salt Lake City. Sunday Morning Futures with Maria Bartiromo (2015)as Himself - Chairman & CEO, Wells Fargo, Your email address will not be published. Little by little, John became more and more involved in high level operations, and in 2006 he became one of the members of the Board Of Directors. John Gerard Stumpf was born on the 15th September 1953 in Pierz, Minnesota USA, of Polish and German ancestry. He has previously worked as a breadmaker in a Pierz bakery. John had 9 siblings: Gertrude Adelaide Schmidtbauer (born Stumpf), Mary Anna Stumpf and 7 other siblings. During his stint as regional president, Norwest Bank Texas acquired 30 Texas banks, with accumulated assets worth over $13 billion. A native of Pierz, Minnesota, Stumpf grew up as one of 11 children on a dairy and poultry farm. He worked in the loan administration department and then became senior vice president and chief credit officer for Norwest Bank, N.A., Minneapolis. Required fields are marked *. Cloud State University on a provisional basis. He was succeeded by Timothy J. Sloan. John G. Stumpf was involved in a fake accounts scandal in which he opened 2 million checking and credit-card bank accounts without the consent of its customers. University of Minnesota, St. John Stumpf keeps his private life for himself, so there is no information in the media about it, except the fact that he has been married to his high school sweetheart, Ruth Spanier, since 1975. Later, he earned his MBA degree from the Carlson School of Management, University of Minnesota. A native of Pierz, Minnesota, Stumpf grew up as one of 11 children on a dairy and poultry farm. Thanks to his successful career, John has received several accolades, including the Banker of the Year in 2013, then being named in the 50 Most Influential Business people list of Bloomberg Markets magazine in 2012, among others. Stumpf became head of Wells Fargo's Southwestern Banking Group (Arizona, New Mexico and Texas). [3] His father was a dairy farmer. He also testified that Wells Fargo will drop its sales incentive program by the end of the week. Mary was born on January 3 1893, in Pierz, Morrison, Minnesota, United States. Later, he got enrolled at St. He was named regional president for Norwest Banks in Colorado/Arizona in 1991. His father was a dairy farmer. His father is of German descent and his mother of Polish descent. You have entered an incorrect email address! John G. Stumpf attended St. Cloud, Minnesota, and his MBA with an emphasis in finance from the University of Minnesota Carlson School of Management. He is a businessman, entrepreneur, and investment baker, who is probably best known for being the CEO, Chairman and President of Wells Fargo & Company, an American international banking and financial services holding company. [9][10], Stumpf served as director of National Association since June 27, 2006 and a Member of Litigation Committee at Visa Inc.[11], In September 2016, Wells Fargo was fined $100 million by the Consumer Financial Protection Bureau, $50 million by the Office of the Comptroller of the Currency and $35 million by the city and county of Los Angeles, for opening two million checking and credit-card bank accounts without the consent of its customers. Although Norwest was the nominal survivor, the merged bank retained the Wells Fargo name. Two years later he became head of the new Western Banking Group (Arizona, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming). He held a number of management positions at Norwest Bank Minneapolis and Norwest Bank Minnesota before assuming responsibility for Norwest Bank Arizona in 1989. Cloud State University in St. Featured Image by Justin Ruckman / Flickr / CC BY 2.0. Stumpf left the positions of chairman and CEO of Wells Fargo on October 12, 2016, following a scandal involving customer accounts and subsequent pressure from the public and lawmakers. [19] On January 23, 2020, Stumpf agreed to a lifetime ban from the banking industry and a $17.5 million fine for his role in the fake account scandal. In addition to their first born, the Stumpfs are the parents of William, Mary Jo Kling, Eileen Devereaux, John, Brian, Anne O’Connor, Jean Fricano, Kevin and Colleen Bennett.