Wells Fargo (Wells Fargo) - a company that provides diversified financial and insurance services in the US, Canada and Puerto Rico, is a rating of Fortune 1000. Wells Fargo, the fourth largest bank in the US, part of the so-called "Big Four" banks in the US along with major competitors - Bank of America, Citigroup and JP Morgan Chase. The company is based in San Francisco, while the headquarters of the banking division is located in Sioux Falls, South Dakota.
The company's headquarters in San Francisco
Type - a public company;
Year of construction - 1852;
Location - San Francisco, CA (USA)
Assets - 1.527 trillion dollars. (2013);
Number of employees - 264 900 (2013).
Wells Fargo was formed by the merger of California-based Wells Fargo & Co. and Norwest, of Minneapolis in 1998. Board of the new company, it was decided to leave the name of Wells Fargo in order to use the well-known name of the company with 150 years of history and its famous symbol - the carriage. Wells Fargo operates 6062 offices, serving more than 23 million customers.
The Bank uses a business model diversification of services provided, thus trying as much as possible to meet the needs of customers. The company provides both banking and financial services, and insurance services. This development model is very successful for Wells Fargo: 80% revenue growth the company has by selling more services to existing customers. Similar models used and Citigroup, but later the company refused such a construction business. Wells Fargo offers a variety of financial services through the 80 divisions of the company. Wells Fargo - one of the first banks to provide their customers with access to bank accounts via the Internet. Since 1995, customers can check the status of accounts, pay bills, buy or sell securities. Wells Fargo lobbied the abolition of laws adopted even during the Great Depression, limits the expansion of the company, in particular Glass-Steagall Act.