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Two Million Fake Accounts: Sales Misconduct at Wells Fargo

Coming out of the financial crisis, Wells Fargo was one of the world’s largest and most successful banks, viewed as a role model in how to manage in times of crisis. The news of its sales misconduct – opening more than 2 million fake accounts – in 2016 rocked consumer confidence and inundated the news. Professor Suraj Srinivasan discusses how sales culture, leadership, board oversight, and risk management all played a role. Cold Call distills Harvard Business School’s legendary case studies into podcast form. Hosted by Brian Kenny, the podcast airs every two weeks and features Harvard Business School faculty discussing cases they’ve written and the lessons they impart. Subscribe on iTunes or wherever you get your podcasts. Listen to an episode at www.hbs.edu/coldcall.