Activist Naylor calls on Wells Fargo to study breakup

September 15, 2016 3:37 PM EDT

A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo


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BOSTON (Reuters) - Activist investor Bart Naylor said on Thursday he has filed a shareholder resolution calling on Wells Fargo & Co (NYSE: WFC) to study breaking up its business in the wake of a fake accounts scandal.

Naylor, a financial policy analyst for consumer advocacy group Public Citizen, has submitted similar measures at other large banks in recent years. His latest calls on Wells Fargo's directors to study "whether the divestiture of all non-core banking business segments would enhance shareholder value."

(Reporting by Ross Kerber; Editing by Alan Crosby)



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