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New Wells Fargo CFO: Arachnophobia Is Partially Responsible for Bank’s Success

Posted on by Caleb Newquist

It boils down to this: if something has less than eight appendages, it’s cool; greater than eight or more is to be avoided.

“Our business is really pretty simple,” Sloan, 50, said in an interview last week at the bank’s San Francisco headquarters. “When you look at the deal and its structure looks like an octopus or a spider, just don’t do it. That kept us out of a lot of things.”

Wells Fargo’s Sloan Avoids Spiders, Octopuses in Rise to CFO [Bloomberg]

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Walgreens Is ‘Aware’ of CFO Being Charged with Second DUI in Just Over a Year

At this rate, Wade Miquelon is going to be at Billy Joel territory in no time:

Walgreen Co. Chief Financial Officer Wade Miquelon was arrested on suspicion of drunken driving last month, his second such arrest in a little more than a year, according to Kenilworth and Glencoe police.


Miquelon stonewalled officers when they requested a breathalyzer test which goes over well approximately 100% of the time. As for the past incident:

In Sept. 2009, he was stopped at 12:51 a.m. at Green Bay Road and Glencoe Drive and charged with speeding, improper lane usage, DUI and having alcohol in his system. In May, he accepted a one-year supervision for the latter offense, according to a Cook County District Court clerk.

“We’re aware of it,” said Walgreen’s spokesman Michael Polzin. “It’s a personal matter, and we don’t comment on personal matters.”

Are they also be aware that it’s relatively inexpensive to hire a full-time driver for a senior executive when you have profits of $2 billion? Just so, you know, no one gets killed.

Walgreens CFO charged for 2nd time with DUI [Chicago Breaking Business]

You Can Forget About Landing That CFO Position at the SEC

Mary Schapiro took some time out of her fraud fighting Friday to ask Kenneth Johnson to quit acting as the Commission’s CFO and to take on the official responsibility of running the Office of Financial Management.

Mr Johnson (KenJo?) vehemently accepted the offer and threw in a shout out to the boss, “I’m honored to accept this new role at such an important time for the agency. Chairman Schapiro is deeply committed to strong financial management, and I’m proud to lead the agency’s initiatives in this area.”


Presumably, the CFO position isn’t a kicking-down-doors type job so Johnson’s first order of business should be to determine the savings on a group rate at one porn site that can appropriate service all tastes.

Washington, D.C., May 21, 2010 — Securities and Exchange Commission Chairman Mary L. Schapiro today announced that Kenneth A. Johnson has been named Chief Financial Officer for the agency.

Mr. Johnson has been serving as acting CFO for much of the past year. The agency’s CFO is responsible for leading its Office of Financial Management, which handles the budget, finance, and accounting operations for the SEC.

“I’m delighted that Ken has agreed to take on this role at the SEC,” said Chairman Schapiro. “His deep experience in the financial arena will be incredibly valuable as we grow as an agency.”

Mr. Johnson added, “I’m honored to accept this new role at such an important time for the agency. Chairman Schapiro is deeply committed to strong financial management, and I’m proud to lead the agency’s initiatives in this area.”

Mr. Johnson, 37, joined the SEC in 2003 as a Management Analyst in the Office of the Executive Director. In that role, he advised on all aspects of the budget process, developed strategy initiatives, and responded to inquiries from the Office of Management and Budget (OMB) and Congress regarding the SEC’s budget and financial operations. He became Chief Management Analyst in 2006.

Mr. Johnson has served as a valuable staff expert on legislative proposals, and he managed the development of the SEC’s long-range Strategic Plan that would guide agency policy through 2015.

Prior to joining the SEC staff, Mr. Johnson worked as a Commerce Analyst at the Congressional Budget Office. His primary responsibility in that role was to analyze and report on the budgetary effects of committee-approved legislation.

Mr. Johnson earned his Masters in Public Policy from the Kennedy School of Government at Harvard University, and earned his BA at Stanford University.

Starwood Hotels CFO Not in Denial About This Egypt Situation

Frankly, it’s bad for business:

“The political turmoil in North Africa, especially Egypt, is of course hurting our business,” said Vasant Prabhu, vice chairman and chief financial officer of the hotelier during a post-earnings conference call Thursday. He noted Starwood has 16 hotels across North Africa that generated between $10 million to $12 million in fees last year.

“We expect that our fees will be hit in North Africa,” he added. “It is too early to tell how we will be impacted, but this is clearly a risk that needs to be closely monitored.”