At embattled Wells Fargo, a former Jamie Dimon protege finally takes over a big US bank

  • Charlie Scharf becomes the first of Dimon’s proteges to take over a direct competitor to J.P. Morgan Chase, the U.S. financial services giant.
  • As head of Wells Fargo starting next month, Scharf will be tasked with restoring credibility with customers, employees and regulators after the bank’s fake accounts scandal claimed his predecessor, Tim Sloan.
  • Wells Fargo shares climb 4% on the news.

Exxon Mobil said on Thursday it’s selling its upstream assets in Norway for $4.5 billion.

The sale, involving more than 20 producing fields operated mostly by Norwegian energy company Equinor, is a part of its plan to divest approximately $15 billion in assets by 2021, Exxon Mobil said.

“Our objective is to have the strongest, most competitive Upstream portfolio in the industry,” said Neil Chapman, senior vice president of Exxon Mobil, in a statement. “We’re achieving that by adding the best set of projects we’ve had in many years and divesting assets that have lower long-term strategic value.”…

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