Carl Reichardt

Summary

The CEO of Wells Fargo during the period when Berkshire Hathaway initially acquired its 10% stake. Praised by Buffett as the "dean" of banking executives.

Timeline & Role

• 1990: Buffett compares Carl Reichardt and his partner Paul Hazen to Tom Murphy and Dan Burke of Capital Cities ABC. He praises Reichardt for attacking costs vigorously even when profits were at record levels, sticking to areas he understands, and refusing to expand head counts unnecessarily. 1990 Letter