Lack of new blood casts doubt over Wells Fargo's overhaul plan

New York

WELLS Fargo & Co's decision not to introduce new names onto its board or into the ranks of its senior management in the wake of a sales scandal has raised questions about whether it can truly fix the culture which caused its problems.

The United States' third-largest bank by assets has been plunged into crisis by revelations that its branch staff created as many as 2 million accounts without customers' knowledge in order to meet internal sales targets.