Wells Fargo & Company

Back in 1852, William G. Fargo and Henry Fells, who founded American Express, joined their capital to form Wells Fargo & Company in order to offer express and finance services in California. Today, Wells Fargo & Co is headquartered in San Francisco, California and is publicly traded at the New York Stock Exchange. In terms of deposits, mortgage services and credit card issuance, Wells Fargo is the second largest bank in the USA, third in terms of market capitalization and fourth by assets. The company has 276,000 employees and is headed by Mr. Dick Kovacevich, Chairman of the Board, Mr. John G. Stumpf, CEO and Mr. Howard I. Atkins, CFO. Wells Fargo has developed its business along the lines of personal banking, including retail banking, lending, investment and insurance services, banking services for SMEs, and commercial banking.

To their individual clients, Wells Fargo & Company offers a set of outstanding online banking solutions including account activity monitoring, bill payment and money transfer options online brokerage and free online reports. The company also has a mobile banking channel and a customer service available 24/7, but what makes the online banking service of Wells Fargo truly outstanding is their vSafe Online Storage, which allows their customers to store and organize copies of important family documents. The set of everyday banking services provided by Wells Fargo also encompasses checking and savings accounts, savings plans and deposits, credit cards issuance, while their loan portfolio includes home mortgage and equity, personal and student loans and auto leasing. In addition, Wells Fargo provides refinancing solutions and banking services at preferential rates for the US armed forces. The investment and insurance department of the company provides its clients with premium private banking services, mutual funds, brokerage, retirement plans and insurance solutions.

In support of the small and medium-sized businesses Wells Fargo offers a set of tailored banking and finance solutions such as business account management and credit card issuance, merchant card processing, loans and credit lines for the purchase of equipment and means of production, payroll and business insurance services, international trade assistance, cash and credit management, and international money transfer assistance. The business online banking, provided by Wells Fargo, allows the users to access their account through the internet, manage cash flow, transfer funds and view transaction details. The service also includes direct payment and foreign exchange and online invoicing.

To their corporate clients, the officials of Wells Fargo & Co are pleased to offer a comfortable number of corporate banking and financial services, including anti-fraud strategies risk assessment and management services, leasing plans for the purchase of equipment, treasury management, corporate financing, international financial services, commercial loans, etc.

Through its Government & Institutional Banking business, the company offers a wide range of financial services for state institutions, educational establishments, healthcare and nonprofit organizations. At the end of Q3 2009, the group has reported a stunning 98 percent increase in their net income year-on-year to 3.2 billion dollars and diluted earnings per common share of $0.56, up by 14% from a year ago.

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