Wells Fargo & Company (NYSE: WFC) is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States. Wells Fargo is headquartered in San Francisco, California, but has major "hubquarters" in other cities throughout the country.
In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the financial crisis of 2007–2012. The firm's primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota.
Wells Fargo in its present form is a result of an acquisition of San Francisco-based Wells Fargo & Company by Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte-based Wachovia. Although Norwest was technically the surviving entity in the 1998 merger, the new company renamed itself Wells Fargo, capitalizing on the 150-year history of the nationally recognized name and its trademark stagecoach. Following the acquisition, the company transferred its headquarters to Wells Fargo's headquarters in San Francisco and merged its operating subsidiary with Wells Fargo's operating subsidiary in Sioux Falls.
In 2012, Wells Fargo had more than 9,000 retail branches and 12,198 automated teller machines in 39 states and the District of Columbia. It has over 270,000 employees and over 70 million customers.
Wells Fargo is one of the Big Four banks of the United States with Bank of America, Citigroup and JP Morgan Chase.
Other articles related to "wells fargo":
... Stock of Wells Fargo Company declined in price, Tevis and his associates purchased quantities of it, and by the fall of 1869 he was in a position to control Wells Fargo ... contract, in the so-called Omaha Conference of October 4, 1869, Wells Fargo accepted Tevis' controlling interest and arranged for the consolidation of Pacific Union Express and Wells Fargo, which occurred in 1870 ... Tevis was elected vice president and a director of Wells Fargo in 1870 ...
... On December 31, 2008, Wachovia Corporation was purchased by Wells Fargo Co after the bank was nearly taken over by the FDIC ... On July 1, 2009, Wachovia Securities was renamed Wells Fargo Advisors and Wells Fargo Investments, which included the former A.G ...
... One Wells Fargo Center in Charlotte, North Carolina Wells Fargo Center in Davenport, Iowa Wells Fargo Center in Denver, Colorado Wells Fargo Center in Jacksonville, Florida Wells Fargo Center in Los Angeles ...
... The tallest building in the city is the Wells Fargo Center, which rises 422 feet (129 m) and was completed in 1998 ... Rank Name Image Height Floors Year Notes 1 Wells Fargo Center 422 / 128.6 1998 ... Originally the American Stores Tower. 22= Shilo Inn 214 / 23 ... Salt Lake Temple 210 / 1893. 24= US Bank Tower(former Wells Fargo Plaza) 209 / 1984. 24= CenturyLink Building(former Qwest Building) 209 / 1980. 24= JC Penney ...
... On November 17, 1859, Ashbel Barney was elected a director of Wells Fargo Company in place of James McKay, who had resigned ... Barney was president at various times of Wells Fargo, the United States Express Company, and the Northern Pacific Railroad ... He was vice president of Wells Fargo from the beginning of 1867 until 1869 when he succeeded Louis McLane as president ...
Famous quotes containing the word wells:
“But where can we draw water,
Said Pearse to Connolly,
When all the wells are parched away?
O plain as plain can be
Theres nothing but our own red blood
Can make a right Rose Tree.”
—William Butler Yeats (18651939)