When the LIbor scandal broke in 2008, Ina Drew of the London office of JPMorgan Chase was called into the office of the bank’s CEO Jamie Dimon, according to reliable sources. It is reliably reported that Dimon said he should take the fall, but could not. She was going. With 25 million dollars.
Now, as Wells Fargo faces fines for encouraging banking underlings to set up fake accounts for clients, another woman is taking the fall. Fortune’s Stephen Gandel reported that Carrie Tolstedt, who led the community banking division where the fraudulent accounts were allegedly opened, was leaving the bank with 124.6 milliion dollars. While the bank called her departure a “personal decision to retire,” many have demanded a substantial “clawback” on Tolstedt’s back pay.
Two women walk with a lot of money, and without squealing. Is this a woman’s job at the top of banking?