Some are replacing legends, others are overseeing major mergers or product launches, and at least one big-bank CEO is on the hot seat. These are the industry executives to keep an eye on in the new year.
Tim Sloan, President and CEO, Wells Fargo
Is any banker more on the hot seat than Wells Fargo's Tim Sloan? When John Stumpf stepped down as CEO in October in the wake of the notorious phony-accounts scandal, many industry watchers believed Wells needed to bring in an outsider to fix the damage. Instead, the board handed the job to Sloan, a 29-year Wells veteran who had previously been tabbed as Stumpf's heir apparent. Sloan can prove the naysayers wrong if he can quickly restore trust with customers and regulators while proving to investors that Wells can still generate industry-leading profits even as it shifts from a sales-oriented culture to one that's more focused on customer service. But it's a tall order, and if Sloan stumbles at all, Wells could once again face pressure to bring in fresh blood.
Related: Can Tim Sloan Fix Wells Fargo?