CEO Timothy Sloan earned nearly $13 million last year in base pay and stock; Wall Street bonus pool rises from 2015 but still lags the years before the crisis.
The auditing giant has faced heavy criticism for failing to uncover wrongdoing at Wells. But the San Francisco megabank said Wednesday that it wants to maintain a relationship that goes back decades.
The embattled bank said that the decision to withhold 2016 bonuses for CEO Tim Sloan and seven other executives was not based on any findings of improper behavior.
The number of new checking accounts at the embattled Wells Fargo fell by double digits year over year, and account closures remained brisk. Yet the figures on credit card applications were worse.
The San Francisco bank said Friday that it plans to close at least 400 branches over the next two years, part of an effort to reduce annual expenses by $2 billion.
