Anyone has a guess based on his prior experiences?
8 replies (most recent on top)
We can only hope there will be, especially with the CEOs direct reports, they obviously have done nothing to increase shareholder wealth and the new CEO knows this. I would not doubt there is some golden parachute for Billy’s chosen ones, so they will hold out to find the sweetest gig at another su---r institution before they leave “by their own choice”. The non-wells execs like DW, KMW, and BB are probably the first on the chopping block and they know it.
Reorgs for sure. Past loyal colleagues and known executives most definitely. I’d expect some “new roles” (remember former head of wealth put in charge of following the rules?) to start and then within 18 months some shuffling, retirements, reassignments, etc.
Hope it happens to a couple virtual premier bankers that need to be booted.
Doubt he’ll be hunting for layoffs on day 1. A few key executives, including his inherited direct reports, will prob get replaced with “his” guys and with that comes restructuring. For us peasants that post here, likely little to no impact in first 12 months IMO
Hoping it happens in mortgage. They need to let JW go as soon as possible before there is anymore destruction
Major ones after Bill drops. Bill is a cancer that needs to go away for shareholders. Leech!
layoffs always on the table. easy button for CEOs trying to make numbers / show progress in the absence of actual progress.
there will definitely be org shuffling as is always the case when new leaders come in which will cascade. but given Bilbo will be board chair thru April '27, dont expect material changes until he is gone (in the same way we didnt see material org changes until Krispy King departed from the board chair position).
Given the next earnings call will be mid-October, ~45 days after they start, I wouldn't expect anything until they outline their plan to analysts.
Depending on where you sit in the org, both vertically and horizontally, I’d expect at least some level of reorg including departures, but can’t imagine it will be in Q3 or maybe even rest of 2026. Unless they get here and think it’s just that bad…
FWIW, while still 5 days in office, they apparently loosened some productivity tracking practices while at Fiserv, returning some autonomy to and restoring some leadership credibility with folks.
If you don’t usually listen to our earnings call, highly encourage you to dial into Lyons’ first as I think we’ll get best first insight then.