Wells Fargo tries to repair its image with new campaign

by Anna Sobrevinas27 Mar 2017

2016 was a troublesome year for Wells Fargo, and in Florida last week, CEO Tim Sloan launched a new brand platform and national advertising campaign, according to a news release.

The bank has been battered by scandal since last year, when it was revealed that employees had opened 2 million unauthorized customer accounts. The revelation led to congressional hearings, the ouster of then-CEO John Stumpf, and controversy over the role of incentives and high-pressure sales environments at financial institutions.

In an attempt to repair the bank’s tarnished image, Sloan also announced six new long-term goals for the company, related with its new campaign “Building Better Every Day.”

“We’re making things right for our customers and our team members,” Sloan said. “We are fixing problems, and we’re building a better bank for the future. As we rebuild trust, we will reintroduce to our stakeholders what our Wells Fargo bankers have always been known for, and that’s helping our customers to succeed financially.”

The bank’s stated long-term goals include improving customer service, better team member engagement, innovation, improved risk management and corporate citizenship, and maximized shareholder value.

As part of the bank’s effort to “make things right,” Sloan said there are plans to survey all 269,000 Wells Fargo team members to strengthen the bank’s culture.

“As a company, Wells Fargo wants to build a better bank every day for our customers, for our team members, for our country, and for the world,” he said. “For our team members and customers, we want to create a culture that’s better for you every day. For our communities, we want to help build better communities every day. The key to our success is our commitment to being better every day.”


Related stories:
Wells Fargo scandal reminiscent of subprime crisis – Fed official
Wells Fargo’s scandal hasn’t touched its mortgage business

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