Business briefing: Two from Wells Fargo board resign posts

Wells Fargo Board Chairwoman Elizabeth Duke and director James Quigley are leaving the company. The announcement arrived less than a month after the bank agreed to pay a $3 billion fine related to its long-running practice of opening unauthorized bank accounts to meeting unrealistic sales goals. Duke has served as chair since January 2018. Quigley has been on board since 2013. Executives at the San Francisco bank were scheduled to testify before the House Financial Services Committee this week. "As the markets face increasing volatility, a strong Wells Fargo is needed now more than ever," Duke and Quigley said in a joint statement. "Out of continued loyalty to Wells Fargo and ongoing commitment to serve our customers and employees, we recommended to our colleagues on the board that we step down from our leadership roles and they have accepted our resignation." Wells Fargo & Co. named Charles Noski as chairman.

Aon is buying rival benefits and risk consultant Willis Towers Watson in an all-stock deal valued at around $30 billion.

Aon said Monday that it will give Willis Towers stock owners slightly more than one Aon share for each of their shares. The new company will be run by Aon Plc CEO Greg Case and remain based in that company's London headquarters. It will retain the Aon name. Willis Towers Watson CEO John Haley will become executive chairman.

Twitter said it has reached an investment deal with Silver Lake and Elliott Management that will keep Jack Dorsey as the social media company's CEO. Twitter Inc. said Monday that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is expected to be put toward a $2 billion stock buyback. Elliott Management Corp., which owns about 4% of Twitter's stock, will get one seat on Twitter's board. Silver Lake will also get a board seat.