Wells Fargo sees total expenses dropping by $3 billion by 2020 -CFO
September 14, 2018 at 08:12 AM EDT
Wells Fargo & Co's chief financial officer said on Friday the bank expects to reduce total expenses by about $3 billion by 2020. Speaking at an industry conference, CFO John Shrewsberry said the bank was on track to reach its target of $53.5 to $54.5 billion by the end of 2018. He sees expenses in the range of $50.0 billion to $51.0 billion in 2020.