Kidnap Victim Safe: First Bank System Chief...

Kidnap Victim Safe: First Bank System Chief Executive John F. Grundhofer, formerly Wells Fargo & Co.’s top executive in Southern California, escaped unharmed after he was abducted from his car in Minneapolis. Grundhofer, 51, was a Wells Fargo vice chairman before he was hired to head Minneapolis-based First Bank earlier this year. He is the brother of Jerry A. Grundhofer, chief executive of the Security Pacific National Bank unit of Los Angeles-based Security Pacific Corp. Jeff Jamar of the FBI and Minneapolis Police Chief John Laux said Grundhofer was abducted by a man dressed in a business suit and armed with a handgun and knife shortly after 8 a.m. Grundhofer was driving onto the bank’s parking ramp at the Pillsbury Center downtown and was abducted while in the car, they said.