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Wells Fargo Chief Made $24.5 Million Last Year

Wells Fargo Chief Made $24.5 Million Last Year

Wells Fargo & Co. kept its chief executive’s pay flat last year while he dealt with the bank’s extensive regulatory problems. Charles Scharf, now in his fourth year running the bank, earned $24.5 million in 2022, level with what he made in 2021. That included base pay of $2.5 million, as well as a cash bonus of $5.4 million, according to a filing made public on Thursday. The board said that Mr. Scharf would have been eligible for his full target pay of $27 million, which would have been a 10% raise, but that Mr. Scharf asked not to receive a raise while he worked through the company’s regulatory matters, according to the filing.