Wells Fargo
Financial Services Company
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Dollar Revels in Continued Risk Aversion...for lots of difficulties going forward even if we are on the road to recovery," said Nick Bennenbroek, head of currency strategy at Wells Fargo in New York. Later in the European session, the ECB announced its first active step to unwind... In this article: New York, Jean-Claude Trichet, Wells Fargo, Toronto, London, and U.K. |
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AP Online | 3 days ago
Wells Fargo agrees to buy back $1.4B in securities
...as safe as cash. But the $330 billion market collapsed in February 2008, and investors' accounts were frozen. Wells Fargo said Wednesday it agreed to buy back the securities from customers nationwide. The company also agreed to pay a $1.9...
In this article: Jerry Brown, San Francisco, and California
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washingtonpost.com | 3 days ago
Wells Fargo to repay $1.3 billion in auction-rate pact
...all active probes and enforcement actions concerning its involvement in the auction-rate securities market. Wells Fargo said it reached separate agreement with the securities industry trade group and the California attorney general's...
In this article: California, NEW YORK, Attorney General, Edmund Brown, San Francisco, Allegation, and Credit crunch
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Wells Fargo agrees to buy back soured securities
NEW YORK (AP) - The North American Securities Administrators Association says Wells Fargo has agreed to repurchase about $1.3 billion in soured auction-rate securities from clients. Wells Fargo & Co. is one of more than a dozen financial...
In this article: San Francisco and NEW YORK
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Reuters | 3 days ago
Wells Fargo to repay $1.3 billion to ARS clients
...a settlement with state securities regulators, an industry association said on Wednesday. The company, a unit of San Francisco-based Wells Fargo & Co, has agreed to offer to buy back ARS by mid-February 2010, the North American Securities...
In this article: Edmund Brown, Washington, California, Allegation, and San Francisco
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Wells Fargo to return $1.3 billion to ARS customers
WASHINGTON (Reuters) - The North American Securities Administrators Association says a brokerage unit of Wells Fargo & Co <WFC.N> agreed to a $1.3 billion settlement involving auction rate securities (ARS). The settlement requires...
In this article: Allegation, Washington, and Reuters
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Description from Wikipedia:
Wells Fargo & Co. (NYSE: WFC) is a diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the US by assets and the second largest bank by market cap. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit card. In 2007 it was the only bank in the United States to be rated AAA by S&P , though its rating has since been lowered to AA- in light of the 2008 Financial Crisis.
Headquartered in San Francisco, California (its bank, Wells Fargo Bank, N.A., is legally chartered in Sioux Falls, South Dakota), Wells Fargo is a result of a merger between California-based Wells Fargo & Co. and Minneapolis-based Norwest Corporation in 1998. The new company chose to keep the name Wells Fargo, to capitalize on the 150-year history of the nationally-recognized Wells Fargo name and its trademark stagecoach. After the merger, the company maintained its headquarters in San Francisco and charter in Sioux Falls.
As of 2009, Wells Fargo has 6,650 retail branches (called stores by Wells Fargo), 12,260 automated teller machines, 276,000 employees and over 48 million customers. Wells Fargo currently operates stores and ATMs under the Wells Fargo and Wachovia names. Wells Fargo was named as "The World's Safest US Bank" based on long-term foreign currency ratings from Fitch Ratings and Standard & Poor's and the long-term bank deposit ratings from Moody’s Investors Service for the year 2007.
- Name:
- Wells Fargo & Co.
- Type:
- Public (NYSE: WFC)
- Location:
- San Francisco, California
- Founded:
- New York, New York, USA (March 18, 1852)
- Stock Symbol:
- WFC
- Industry:
- Banking
- Financial Services
- Key People:
- Dick Kovacevich, Chairman
- Products:
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- Insurance
- Consumer Finance
- Payday advance
- Retail Banking
- Investment Banking
- Mortgages
- Revenue:
- US$52.38 billion (2008)
- Net Income:
- US$8.49 billion (2008)
- Assets:
- US$1.284 trillion (July '09)
- Equity:
- US$99.08 billion (2008)
- No. of Employees:
- 276,000 (2009)
- Motto:
- "The Next Stage"
- Market Cap:
- US$114.04 billion (Feb '09)
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