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Jim Cramer: New Wells Fargo CEO Was an 'Unbelievable Choice'

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The search is finally over.

Charles Scharf, who was poached by Wells Fargo (WFC) - Get Wells Fargo & Company Report from his position as CEO of BNY Mellon, will take the helm as CEO of Wells Fargo starting October 21.

"I am honored and energized by the opportunity to assume leadership of this great institution, which is important to our financial system and in the midst of fundamental change," Scharf said. "I have deep respect for all the work that has taken place to transform Wells Fargo, and I look forward to working closely with the board, members of the management team, and team members."

Curious about why Jim Cramer thinks that Wells Fargo made an "unbelievable choice" with Scharf? Watch the full video above. 

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