|Exchange:||New York Stock Exchange|
|Stock:||Wells Fargo & Co|
|Industry:||Banks - Global|
|Wells Fargo & Co is a corporation organized under the laws of Delaware and a financial holding company and a bank holding company registered under the Bank Holding Company Act of 1956, as amended. The Company is the product of the merger of Norwest Corporation and the former Wells Fargo & Company, completed on November 2, 1998. On completion of the merger, Norwest Corporation changed its name to Wells Fargo & Company. Wells Fargo acquired Wachovia Corporation. Wachovia, based in Charlotte, North Carolina, was financial services companies, providing a range of retail banking and brokerage, asset and wealth management and corporate and investment banking products and services to customers through 3,300 financial centers in 21 states from Connecticut to Florida and west to Texas and California and nationwide retail brokerage, mortgage lending and auto finance businesses. The Company expanded its business, in part, by acquiring banking institutions and other companies engaged in activities that are financial in nature. The Company continues to explore opportunities to acquire banking institutions and other financial services companies and discussions related to possible acquisitions might occur at any time. The Company is a financial services company, which provides retail, commercial and corporate banking services through banking stores located in 39 states and the District of Columbia. The Company provides other financial services through subsidiaries engaged in various businesses, mainly: wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. The Company’s was operating through its three segments for management reporting purposes: Community Banking, Wholesale Banking and Wells Fargo Financial. As of first quarter, 2009, Wells Fargo Financial rolled into Community Banking and was replaced with Wealth, Brokerage and Retirement. Community Banking offers a complete line of diversified financial products and services for consumers and small businesses including investment, insurance and trust services in 39 states and D.C. and mortgage and home equity loans in all 50 states and D.C. In addition, Community Banking includes Wells Fargo Financial. Wholesale Banking provides financial solutions to businesses across the United States. Products include middle market banking, corporate banking, commercial real estate, treasury management, asset-based lending, insurance brokerage, foreign exchange, correspondent banking, trade services, specialized lending, equipment finance, corporate trust, investment banking, capital markets, and asset management. Wealth, Brokerage and Retirement provides a range of financial advisory services to clients. It provides clients with a range of wealth management solutions including financial planning, private banking, credit, investment management, trust and estate services, business succession planning and charitable services along with bank-based brokerage services through Wells Fargo Advisors and Wells Fargo Investments, LLC. The Company’s subsidiaries competes with financial services providers, such as banks, savings and loan associations, credit unions, finance companies, mortgage banking companies, insurance companies and mutual fund companies. They also face increased competition from non-bank institutions such as brokerage houses, as well as from financial services subsidiaries of commercial and manufacturing companies. The Company's state-chartered banks are subject to main federal regulation and examination by the FDIC and, in addition, are regulated and examined by their respective state banking departments.|
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.