Profile: Wells Fargo & Co (WFC.N)
17 May 2013
Wells Fargo & Company, January 24, 1929, is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking and Wealth, Brokerage and Retirement. The Company provides retail, commercial and corporate banking services through banking stores and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries. The Company provides other financial services through subsidiaries engaged in various businesses, principally wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. On February 1, 2012, the Company acquired Burdale Financial Holdings Limited and the portfolio of Burdale Capital Finance Inc. from Bank of Ireland. In April 2012, it acquired the North American reserved-based and related diversified energy lending business of BNP Paribas.
Community Banking offers a line of diversified financial products and services to consumers and small businesses. Banking also offers investment management and other services to retail customers and securities brokerage through affiliates. These products and services include the Wells Fargo Advantage Funds, a family of mutual funds. Loan products include lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education loans, origination and purchase of residential mortgage loans and servicing of mortgage loans and credit cards. Other credit products and financial services available to small businesses and their owners include equipment leases, real estate and other commercial financing, Small Business Administration financing, venture capital financing, cash management, payroll services, retirement plans, Health Savings Accounts, credit cards, and merchant payment processing. Community Banking also purchases sales finance contracts from retail merchants throughout the United States and retail installment contracts from auto dealers in the United States and Puerto Rico. Consumer and business deposit products include checking accounts, savings deposits, market rate accounts, Individual Retirement Accounts, time deposits, global remittance and debit cards. Community Banking serves customers through a complete range of channels, including traditional banking stores, in-store banking centers, business centers, automated teller machines (ATMs), online and mobile banking, and Wells Fargo Customer Connection, round the clock telephone service.
Wholesale Banking provides financial solutions to businesses across the United States and to financial institutions globally. Wholesale Banking provides a line of commercial, corporate, capital markets, cash management and real estate banking products and services. These include traditional commercial loans and lines of credit, letters of credit, asset-based lending, equipment leasing, international trade facilities, trade financing, collection services, foreign exchange services, treasury management, investment management, institutional fixed-income sales, interest rate, commodity and equity risk management, online/electronic products, such as the Commercial Electronic Office (CEO) portal, insurance, corporate trust fiduciary and agency services, and investment banking services. Wholesale Banking manages customer investments through institutional separate accounts and mutual funds, including the Wells Fargo Advantage Funds and Wells Capital Management. Wholesale Banking also supports the CRE market with products and services, such as construction loans for commercial and residential development, land acquisition and development loans, secured and unsecured lines of credit, interim financing arrangements for completed structures, rehabilitation loans, affordable housing loans and letters of credit, permanent loans for securitization, CRE loan servicing and real estate and mortgage brokerage services.
Wealth, Brokerage and Retirement
Wealth, Brokerage and Retirement provides a range of financial advisory services to clients using a planning approach to meet each client’s needs. Wealth Management provides affluent and high-net-worth clients with a range of wealth management solutions, including financial planning, private banking, credit, investment management and trust. Family Wealth meets the needs of ultra high-net-worth customers. Brokerage serves customers’ advisory, brokerage and financial needs as part of full-service brokerage firms in the United States. Retirement is providing institutional retirement and trust services (including 401(k) and pension plan record keeping) for businesses, retail retirement solutions for individuals, and reinsurance services for the life insurance industry.
Wells Fargo & Co
420 Montgomery Street
SAN FRANCISCO CA 94163