Wells Fargo narrowly survives shareholder rebellion

Wells Fargo narrowly survived an investor rebellion after almost half of the votes cast at the bank’s shareholder meeting on Tuesday went against the reelection of some of its board directors.

Stephen Sanger, chairman, narrowly survived an outright vote against him. Only 56 per cent of votes were cast in his favour.

Enrique Hernandez sustained the biggest protest vote with only 53 per cent backing.