Bank of America and Wells Fargo compete like "cats and dogs” during business hours, Wells Fargo chief executive John Stumpf says, but that didn't keep him from spending Tuesday evening with Hugh McColl Jr., the retired CEO of his biggest rival.
The topic of conversation was the city that McColl played a major role in building over the last couple of decades. Now, from his base in San Francisco, Stumpf will have a big say in where the city goes from here after buying Charlotte-based Wachovia Corp. last year.
“We talked about what can we do and what he's doing to make this city an even better city than it is today,” Stumpf said in an interview Wednesday with the Observer. “We both recognize this is a very special place. I think the long-term prospects are very, very bright.”
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