With an approximate net worth of more than $60 million USD in the year 2017, John Stumpf is one of the top of the line Retail Banker in America. He is known for several professional activities in business world. He is the former CEO of Wells Fargo, one of the largest bank in US. Due to his marvelous efforts in banking industry in America, having a mind-blowing hefty net worth.
John Stumpf Biography
With full name John Gerard Stumpf, born on 15 September 1953, is an American native, who was grew up in Pierz, Minnesota, U.S. and currently residence in San Francisco, California, U.S. His father was Herb Stumpf, who was a dairy farmer and mother was Elvira Stumpf, who was a house wife. Stumpf was raised in lower middle class family, where his father was a dairy farmer and have 11 children in whole.
Due to lack of finance, he started working as a bread-maker in a Pierz Bakery. He is a bottom half student during his high schooling with bad grades. After high schooling, he attended St. Cloud State University and obtained bachelor’s degree in finance. Later, opted for Master’s degree in finance that is, MBA from Carlson School of Management. In 1975, John Stumpf married Ruth Spanier and currently living a happy and healthy life.
Due to sharp business mind, John Stumpf choses banking as his professional career. He is one of the most remarkable personality in American banking industry. He started as professional banker in 1982, when he joined Northwestern National Bank, the flagship bank of Norwest Corporation, where he worked in department of loan administration and later became senior vice president and chief credit officer of that bank.
In 1989, he got responsibility for Norwest Bank Arizona and later in 1991, got regional president position for Norwest Banks in Colorado/Arizona. He was also regional president for Norwest Bank Texas from 1994 to 1998. In 1998, Norwest Bank merged with Wells Fargo and due to which, Stumpf became head of Wells Fargo’s Southwestern Banking Group i.e. Arizona, New Mexico and Texas and after couple of years became head of new Western Banking Group i.e. Arizona, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.
He was named Group EVP of Community Banking in 2002. In 2006, Stumpf served as director of National Association as well as a Member of Litigation Committee at Visa Inc. He also led one of the largest banking merger in the history in 2008 with purchase of Wachovia, financial services company based in Charlotte. Stumpf is also included in Board member of several organization such as, The Clearing House, Financial Services Roundtable, Chevron. In 2016, Stumpf announced his retirement as chairman and CEO of Wells Fargo, due to scandal involving customer accounts.
With amazing business executive knowledge, John Stumpf achieve numerous success in his whole professional career. Although, we can’t able to find out any award or honor won by him, but because of his awesome talent in May 2002, he was named Group EVP of Community Banking and also remained the chairperson of National Association. May hope, will get several honors in near future.
How much is John Stumpf Net Worth in 2017
Because of hard work and dedication, John Stumpf got all his net worth while served in different-different role in banking industry. He is currently a retired personality but achieved lots of net worth in his active days. His net worth is estimated around $60 million USD as of 2017, which is a hefty sum for a retired personality.
John Stumpf is currently 63 year of age and retired from his professional career recently and currently living in San Francisco, California, U.S. We wish him for a healthy life in his forthcoming days. Hopefully, will do some professional activities in his retirement days.