Wells Fargo Bank Information
Wells Fargo & Company is an American multinational banking and financial services holding company which is headquartered in San Francisco, California, with “hubquarters” throughout the country. It is the world’s second-largest bank by market capitalization and the third largest bank in the U.S. by assets. In July 2015, Wells Fargo became the world’s largest bank by market capitalization, edging past ICBC, before slipping behind JP Morgan Chase in September 2016, in the wake of a scandal involving the creation of over 2 million fake bank accounts by Wells Fargo employees.Wells Fargo surpassed Citigroup Inc. to become the third-largest U.S. bank by assets at the end of 2015. Wells Fargo is the second-largest bank in deposits, home mortgage servicing, and debit cards.Wells Fargo is one of the “Big Four Banks” of the United States.[As of December 31, 2015, it had 8,700 retail branches and 13,000 automated teller machines. The company operates across 35 countries and has over 70 million customers globally.
10 largest banks in the U.S. by assets
|JPMorgan Chase||Bank of America Corp.||Wells Fargo & Co||Citigroup Inc.||Goldman Sachs Group Inc.|
|Morgan Stanley||U.S. Bancorp||PNC Financial Services Group Inc.||TD Group US Holdings LLC||Capital One Financial Corp|
Our vision is:“We want to satisfy all our customers’ financial needs and help them succeed financially.”
It is just as relevant today as when it was written more than 20 years ago. In fact, we didn’t know then that at only 88 characters, it would be succinct enough to tweet today!
Our vision of financially satisfied, successful customers is based on a simple premise. We believe customers across all business segments can be better served, and save time and money, if they bring all their financial services to one trusted provider that knows them well, provides trusted guidance and advice, and can serve their full range of financial needs through a wide choice of products and services.
Our journey toward this customer-centric vision has required hard work, persistence and determination. We’ve made steady progress toward this goal. But we still have much to learn, teach and share and, as always, more of our customers’ financial needs to satisfy. For example, our own customers still give about half their financial business to our competitors! Our job—central to our vision—is to make it easy for customers to bring more of their business to us so we can satisfy all their financial needs.
Wells Fargo Bank vision has nothing to do with transactions, pushing products or getting bigger for the sake of bigness. It’s about building lifelong relationships one customer at a time.
Each of our customers defines “financial success” differently and very personally. This could include the desire for financial security and self-sufficiency or the desire to be financially literate. It could include the desire to be disciplined and focused on spending and saving so customers can afford their own home, start or grow a business, save for education or prepare for retirement. Knowing what financial success means to each of our customers is the starting point for serving each of them well.
The reason we wake up in the morning is to help our customers succeed financially and to satisfy all their financial needs. The result is we make money because of our focus on serving customers, not the other way around. This time-tested vision will forever be what matters to Wells Fargo. We’ll never put the stagecoach ahead of the horses.
Products Consumer banking, corporate banking, credit cards, Auto Lender, Dealer Service, finance and insurance, foreign currency exchange, investment banking, mortgage loans, private banking, private equity, wealth management etc.
Wells Fargo Bank Information- Goals:
Our revenue goal Wells Fargo is a growth company that believes the key to the bottom line is the top line. The ability to grow profits consistently is based on sustainable revenue growth—growth driven by our ability to satisfy all of our customers’ fundamental financial needs year after year.
If we had to select only one goal, it would be revenue growth. It’s the most important measure of service, sales and customer satisfaction. It’s the vote our customers cast every day with their pocketbooks. When they rave about our service, they’ll give us more of their business, increasing revenue. They’ll refer new customers to us. They’ll stay with us for life.
We can’t control the economy, interest rates, the markets or world events. We focus on what we can control and what we can sustain long term: our core performance, our revenue growth. That’s our goal whether the road’s bumpy or smooth. Whether interest rates or unemployment are high or low. Whether the yield curve’s flat or steep. Whether the economy’s growing or contracting. What we can influence is our desire and ability to serve customers and make smart business decisions. That’s what propels our revenue growth.
Wells Fargo Bank information- financial goal
Wells Fargo is a safe and sound company in which our customers and shareholders can place their trust. We maintain and measure our conservative financial position by asset quality, capital levels, lack of complexity, diversity of revenue sources and sound accounting policies. We disperse risk by geography, loan type, industry segment and by building risk management into every aspect of our culture. We want to have a strong balance sheet, funded more by core deposits than virtually any of our competitors.
|Name of the Bank||Wells Fargo Bank
|Type||Public Limited Company|
|Traded as||NYSE: WFC
S&P 100 Component
S&P 500 Component
|International Securities Identification Number||N/A|
|Industry||Banking, financial services|
|Predecessor||Crocker National Bank
First Interstate Bancorp
Bank of North America
First Security Corporation
|Founded||March 18, 1852; 165 years ago|
|Founder||Henry Wells William Fargo|
|Headquarters||420 Montgomery Street,
San Francisco, California, U.S.
|Number of locations
||8,700 retail branches and 13,000 automated teller machines.|
Elizabeth Duke (Vice Chair)
Timothy J. Sloan (President and CEO)
|Products||Asset management, brokerage services, commercial banking, commodities, consumer banking, corporate banking, credit cards, consumer finance, equities trading, finance and insurance, foreign currency exchange, foreign exchange trading, futures and options trading, insurance, investment banking, investment management, money market trading, mortgage loans, prime brokerage, private banking, retail banking, retail brokerage, risk management, treasury and security services, underwriting, wealth management|
|Revenue||Increase US$88.26 billion (2016)|
|Operating income||Decrease US$32.12 billion (2016)|
|Profit||Decrease US$21.93 billion (2016)|
|Asset Under Management (AUM)||N/A|
|Total assets||Increase US$1.930 trillion (2016)|
|Total equity||Increase US$199.5 billion (2016|
|Number of employees||268,800 (2016)|
|Divisions||Wells Fargo Rail|
10 largest banks in the U.S. by assets
|1. JPMorgan Chase||2. Bank of America Corp.|
|3. Wells Fargo & Co||4 .Citigroup Inc.|
|5. Goldman Sachs Group Inc.||6. Morgan Stanley|
|7. U.S. Bancorp||8. PNC Financial Services Group Inc.|
|9. TD Group US Holdings LLC||10 . Capital One Financial Corp.|