Top 10 Banks in the World 2017

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6. Wells Fargo

Founded in 1852, Wells Fargo Bank is a community based nation-wide financial services and bank holding company, headquartered in San Francisco, California.

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Although the bank offers services such as banking, mortgage, insurance, commercial financing etc to its customers, its major operating segments are Wholesale Banking, Community Banking and Wealth Brokerage and Retirement. The company was founded by Henry Wells and William Fargo in the year 1952.

It was initially named the Wells Fargo and Company, and its major operations included buying and selling gold and bank drafts, as well as the rapid delivery of gold and other valuables. The opening of the firm was timed to perfection, right in the middle of the Gold Rush in San Francisco. In 1858, the firm helped start the Overland Mail Company, also known as the Butterfield Line. The company took over the operation of the Pony Express in 1861, and in 1866, it combined all major western stage lines into a single entity. By 1888, Well Fargo had become America’s first nationwide express company, and its agents had started offering basic financial services such as money orders and fund transfers.

Wells Fargo & Co's Bank officially separated from Wells Fargo and Co Express in 1905 and served as a commercial bank right upto 1920. In 1918, the federal government took over the express network, leaving Wells Fargo with just a single bank in San Francisco. The firm however, had grown its client base in industries such as agriculture, automobiles, aerospace etc. The firm expanded in the subsequent years and soon came to be known as “The Bankers Bank”.  In the 1960s, it became North California’s regional bank, and by the 1980s it became a state wide bank, and launched its online services. The firm expanded into the Midwestern and Eastern states by the 1990s. Currently, the firm employs over2,68,000 employees, and the CEO of the firm is Timothy Sloan.

Revenue (in Billion of USD): 88.27

Net Profit (in Billion of USD): 21.94

Assets (in Billion of USD): 1930.11

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