Wells Fargo & Co's board hired law firm Shearman & Sterling LLP to advise on executive compensation and potential clawbacks, the Wall Street Journal reported, citing people familiar with the matter. Robert Mundheim, a lawyer at the firm, is advising the bank's board on whether it should claw back pay of Chief Executive John Stumpf, Chief Operating Officer Timothy Sloan and former retail banking head Carrie Tolstedt.
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