Wells Fargo was founded in 1852 and in its present form the bank is a result of merger between Minneapolis based Norwest Corporation and San-Francisco based Wells Fargo in 1998 and also the acquisition of Wachovia in 2008.
Currently led by John G. Stumf, it employs 263900 employees and is headquartered in San Francisco. Wells Fargo is a financial services holding company, operating in about 35 countries with over 70 million global customers.
Wells Fargo is one of the Big four Banks of the United States, and offers services in about 80 different business lines and mainly three segments- community banking, wholesale banking and wealth, brokerage and retirement. . Private banking is used to serve high net worth individuals. Wholesale banking includes products sold to large and middle market commercial companies. This includes lending, treasury management, mutual funds; asset based lending and other related services. Community banking services include regional banking; diversified products and consumer deposits group as well as customer connection. Investment products are offered through subsidiaries Wells Fargo Investment, LLC and Wells Fargo Advisors.
The bank aims to satisfy its customer’s financial needs and help them develop financially. It strives to build long term relationships with the clients and is guided by five values: Diversity and inclusion, Leadership, Ethics. What’s right for customers and people as competitive advantage.