Carl E. Reichardt Explained

Carl E. Reichardt
Birth Name:	Carl Edwin Reichardt Jr.
Birth Date:	6 July 1931
Birth Place:	Houston, Texas, U.S.
Death Place:	Belvedere, California, U.S.
Alma Mater:	University of Southern California
Occupation:	Banking executive
Known For:	President of Wells Fargo & Company from 1978 to 1983

Carl Edwin Reichardt Jr. (July 6, 1931  - July 13, 2017) was an American banking executive and chief executive officer of Wells Fargo Bank.

Early years

Reichardt received his BA degree in economics from the University of Southern California in 1956. Reichardt spent his formative years in banking in the 1960s in Los Angeles at Union Bank^[1] under the leadership of then-CEO and banking pioneer Harry Volk.^[2]

Wells Fargo

In his banking career he joined Wells Fargo in 1970, rising to the post of president in 1978.^{[3] [4]}

He was president of Wells Fargo & Company from 1978 to 1983 and then chief executive officer and chairman of the board of directors until the end of 1994.^{[5] [6]} He was also named chief operating officer in 1981.

In January 1983 he succeeded Richard P. Cooley as chairman and chief executive officer of Wells Fargo.^[7] Reichardt relinquished the office of president to Paul Hazen in 1994. Together they guided the bank through the mergers with Crocker National Corporation in 1986 and Barclays Bank of California in 1988 and the recession of the early 1990s. In 1998, Reichardt retired from the board of directors of Wells Fargo.

Other corporate involvement

He was a director of Ford Motor Company from 1986 to 2006,^[8] serving as vice chairman from 2001^[9] to 2003.^[10]

Reichardt also served on the boards of a number of corporations, include Pacific Gas & Electric, ConAgra, HCA, McKesson, HSBC Holdings PLC, and the Newhall Management Corporation. In addition, he has served as a director of University of San Francisco and of the University of Southern California. In 1989, Reichardt received the Golden Plate Award of the American Academy of Achievement.^[11]

Reichardt died on July 13, 2017, at the age of 86.^[12]

Notes and References

1. News: Carl Reichardt, as CEO of Wells Fargo, Declared War on Costs Large and Small . James R.. Haggerty. The Wall Street Journal. 17 July 2017 . 2020-08-20 . registration.
2. News: Harry J. Volk, 94, a Bank Executive Known for Innovations . Claudia. Deutsch. The New York Times. 18 May 2000 . 2020-08-20 . registration.
3. (22 March 1978). Wells Fargo Restructures Top; Names Reichardt to Head Bank, The New York Times, Retrieved November 18, 2010
4. Pollack, Andrew (16 February 1986). Carl Reichardt's California Playpen, The New York Times, Retrieved November 18, 2010
5. Bennett, Robert A. (3 December 1989). The Banker Who Would Be Scrooge, The New York Times, Retrieved November 18, 2010
6. (20 July 1994). Wells Fargo Chairman Is Retiring The New York Times, Retrieved November 18, 2010
7. http://www.wellsfargohistory.com/archives/annualreports/1982AnnualReport.WF.pdf 1982 Annual Report
8. Stoll, John D. (28 August 2006) Ford Director Resigns as Company Mulls Sale of Luxury Marques, The New York Sun, Retrieved November 18, 2010 ("In April, former executives Jim Padilla and Carl E. Reichardt resigned from the board.")
9. Maynard, Michelle (31 October 2001). 2 New Top Executives Ready to Share Management Load, The New York Times, Retrieved November 18, 2010 ("Mr. Ford named Carl E. Reichardt, the retired chief executive of Wells Fargo & Company, as vice chairman, with sweeping responsibilities over Ford's financial, leasing, credit and rental car operations.")
10. (17 June 2003). VICE CHAIRMAN FOR FINANCE TO LEAVE POST AT FORD, The New York Times, Retrieved November 18, 2010
11. Web site: Golden Plate Awardees of the American Academy of Achievement . achievement.org . American Academy of Achievement .
12. News: Carl E. Reichardt, Leader of Wells Fargo in the 1980s and '90s, Dies at 86. Cardwell. Diane. The New York Times. August 1, 2017. August 2, 2017.