WellsFargo

Wells Fargo & Company

Company logo since 2008
464 California Street, San Francisco, California, U.S.
Type	Public
Traded as	: WFC S&P 100 Component S&P 500 Component
Industry	Banking, financial services
Predecessors	Crocker National Bank First Interstate Bancorp Bank of North America First Security Corporation Norwest Corporation Wachovia
Founded	March 18, 1852; 166 years ago (1852-03-18) New York, New York, U.S.
Founder	Henry Wells William Fargo
Headquarters	420 Montgomery Street, San Francisco, California, U.S.
Number of locations	8,300 retail financial centers and 15,900 automated teller machines
Area served	Worldwide
Key people	Elizabeth Duke (Chair) Timothy J. Sloan (President and CEO)
Products	Asset management, brokerage services, commercial banking, commodities, consumer banking, corporate banking, credit cards, consumer finance, equities trading, finance and insurance, foreign currency exchange, foreign exchange trading, futures and options trading, insurance, investment banking, investment management, money market trading, mortgage loans, prime brokerage, private banking, retail banking, retail brokerage, risk management, treasury and security services, underwriting, wealth management
Revenue	US$88.389 billion (2017)
Operating income	US$27.337 billion (2017)
Net income	US$22.183 billion (2017)
Total assets	US$1.952 trillion (2017)
Total equity	US$206.936 billion (2017)
Owner	Berkshire Hathaway (9.9%)
Number of employees	268,800 (2016)
Divisions	Wells Fargo Rail
Website	wellsfargo.com

Wells Fargo Securities, LLC

Type	Subsidiary
Industry	Investment Banking
Headquarters	Charlotte, North Carolina
Area served	Worldwide
Website	www.wellsfargo.com/com/securities/

Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, California, with central offices throughout the country. It is the world's second-largest bank by market capitalization and the third largest bank in the U.S. by total assets. In July 2015, Wells Fargo became the world's largest bank by market capitalization, edging past ICBC, before slipping behind JPMorgan Chase in September 2016, in the wake of a scandal involving the creation of over 2 million fake bank accounts by Wells Fargo employees. Wells Fargo surpassed Citigroup Inc. to become the third-largest U.S. bank by assets at the end of 2015. Wells Fargo is the second-largest bank in deposits, home mortgage servicing, and debit cards.

The firm's primary operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota. Wells Fargo in its present form is a result of a merger between San Francisco–based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte-based Wachovia. Following the mergers, the company transferred its headquarters to Wells Fargo's headquarters in San Francisco and merged its operating subsidiary with Wells Fargo's operating subsidiary in Sioux Falls. Along with JPMorgan Chase, Bank of America, and Citigroup, Wells Fargo is one of the "Big Four Banks" of the United States. As of December 2017, it had 8,300 retail branches and 15,300 automated teller machines. The company operates across 35 countries and has over 70 million customers globally.