Founded in 18th March 1852, Wells Fargo & Company is an American multinational banking and financial services company. It is said to be world’s largest bank by market capitalization. The main headquarters of this company is located in San Francisco, California, U.S. It has also surpassed Citigroup Inc. and became the third largest bank assets. It is also said to be the second largest bank in debit cards and home mortgage servicing.
There are various predecessors of this bank such as Crocker National Bank, Bank of North America, Norwest Corporation, First Interstate Bancorp, First Security Corporation, etc. It was founded by Henry Wells and William Fargo. Today, it is located in various locations.
There are 13,000 automated teller machines as well as 8,200 retail financial centres serving customers worldwide. It also specifies three different business segments such as Wealth, Brokerage and Retirement, Wholesale Banking and Community Banking. Until, 1st May 2009, Wells Fargo was called as Wachovia Securities. Later on, it legally changed its name to Wells Fargo’s acquisition of Wachovia Corporation. It provides Products like Asset management, foreign currency exchange, brokerage services, finance and insurance, commercial banking, commodities, consumer finance, consumer banking, credit cards, corporate banking, equities trading and many more products to their customers.
Products and Services:-
Wells Fargo offers the following to customers-
- Financial Institution Services
- Financing and Credit
- Foreign Exchange
- Trade Services
- Asset Management
- Corporate Trust Services
- Shareowner Services
- Trust and Custody
- Investment Banking, Securities, and Markets
- Treasury Management
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