What is Wells Fargo?
Wells Fargo & Company (WFC) is an American bank and financial services company, with its headquarters in San Francisco, California. Founded in 1852, the company originally offered express delivery services of gold and valuable items as well as banking services. The company's use of a six-horse stagecoach reflects its origins.
Where have you heard about Wells Fargo?
In 2016 Wells Fargo made the news after it was forced to pay fines of $185 million after bank employees fraudulently opened millions of deposit and credit-card accounts without customer's approval in order to hit sales targets and make their bonuses.
What you need to know about Wells Fargo.
As of December 2016, Wells Fargo was the 2nd largest bank in the United States, with assets of $1.7 trillion under management but the world's largest by market capitalisation. Stock in Wells Fargo trades on the New York Stock Exchange (NYSE) under the ticker WFC.
Wells Fargo has over 70 million customers. They do business with a third of US households, and have business operations in 36 countries. Although they specialise in commercial, consumer and community banking, they also offer investment services and wealth management.
Find out more about Wells Fargo.
Wells Fargo are one of the top largest firms in the world by market capitalisation. Find out how it is calculated.