Wells Fargo is one of a handful of U.S. companies dating to the mid-1800s that is still in the same business and operates under the same name. The headquarters building at 420 Montgomery Street in San Francisco stands on the same spot where Wells Fargo first opened for business in 1852.
In any business, there are several companies & brands which compete with each other by offering similar products & services.
For any company to thrive, it is not only important for them to improve their own products, but to also look at what their competitor is offering.
Below we look at the top 9 competitors of Wells Fargo.
1. Bank of America:
Bank of America is a banking institution and financial services provider around the globe. It was set up as Bank of Italy in 1904 by Amadeu Gianni. It has grown multifold over the las hundred and twelve years to become one of the leading banks in the United States.
Founded in 1848 Prudential is a London based group offering financial services. It has been providing financial security and taking away the uncertainty from people’s life from the past 168 years through their long term savings and protection products, retirement solutions and asset management. They deliver high quality products and services to 24 million customers globally.
3. JP Morgan Chase:
JP Morgan Chase is a multinational financial and banking service provider. It is one of the oldest financial institutions in the US and is headquartered in New York City. With assets of $2.4 trillion JP Morgan Chase is largest bank in the United States and the sixth largest bank in the world by total assets.
Morgan Stanley is a US based multinational providing financial services across the world. It is one of the giant in this sector with its operations in 24 countries round the world. It manages around $1.4+ trillion of the assets.
HSBC is a multinational firm which works in the banking sector. HSBC is of British origin and was setup in its present form in the year 1991. The Hongkong and Shanghai Banking Corporation has its main functioning area in Hongkong and a little less work in the Shanghai.
6. Goldman Sachs:
A leading American investment banking firm Goldman Sachs was founded in 1869 by Marcus Goldman and Samuel Sachs. The company has its headquarters in New York, United States. It’s a global investment bank and a security and investment management firm which deals with diverse range of financial services for individual and institutional clients.
7. Credit Suisse:
Credit Suisse is a Switzerland based company in financial services. Credit Suisse is a 160 years old company and is mainly divided into four divisions namely: Asset management, Investment banking, Private banking and Shared services group. In terms of research, it carries out extensive research in private banking that includes independent research in macro, bonds, equity, currency analysis and also research on Swiss Economy.
8. Standard Chartered:
Standard Chartered is British multinational banking and financial services company. It operates in more than 70 countries across the globe. 90% of its profits come from Asia, Africa and The Middle East.
9. BNP Paribas:
BNP Paribas is one of the oldest banks in the world found in the year 1860. This French multinational bank is also one of the largest banks in the world in terms of its total assets. With its presence in more than 70 countries BNP Paribas employs more than 150,000 employees globally.
To conclude, the above article highlights the various competitors which compete with Wells Fargo. This understanding helps to evaluate the various external business factors for any company.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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