Wells Fargo

Topics: Wells Fargo, Henry Wells, William Fargo Pages: 16 (5824 words) Published: June 27, 2011
Introduction 1
Henry Wells & William Fargo founded Wells, Fargo & Co. in March 1852 during the gold rush in San Francisco, Ca. They Offered banking and express; buying and selling of gold dust, bullion, and specie (or coin); and freight service between New York and California. Although it was not the first bank in the west, it was recognized as being the best. In the 1850’s Wells Fargo expanded rapidly and gained a reputation for dependability and soundness. It became renowned for going great lengths to serve its customers, even in the most remote locations. In 1866 Wells Fargo developed their own stagecoach business and adopted the stagecoach as their symbol. In 1888, Wells Fargo became the country’s first nationwide express company, and their motto was “Ocean-to-Ocean” because they offered services in over 25 states. At the start of the 20th century gold was no longer the main function; instead they turned to traditional service such as deposits, making loans and issuing letters of credit.

Today, Wells Fargo & Company is a diversified financial services company with $428 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers across North America and elsewhere internationally. Wells Fargo's vision statement reads "We from, more than 10,000 stores and the Internet (www.wellsfargo.com) want to satisfy all of our customers' financial needs, help them succeed financially, be the premier provider of financial services in every one of our markets, and be known as one of America's great companies."

Wells Fargo is a diversified financial service company that provides banking, insurance, investment, mortgage, and consumer and commercial finance services through more than 10,000 stores. Wells Fargo also provides 12,000 ATM machines nationwide and Internet service that can be accessed worldwide since 1989. As of this year, the company has $1.2 trillion in total assets and $134 billion in Market Value of stock. Well Fargo’s third quarter 2010 report, which ended on September 30, 2010, reported net income of $8.95 billion and $1.60 per common share. The quarterly earnings were $3.34 billion and net income applicable to common stock of $3.15 billion. The third quarter report also reported diluted earnings per common share of $0.60, revenue of $20.9 billion, profit at $8.6 billion and non-interest expense at $12.3 billion. All of Wells Fargo’s financial reports are cumulative reports with Wachovia since the merger of December 31, 2008.

Wells Fargo is one of the Big Four Banks of the United States with Bank of America, Citigroup, and JP Morgan Chase. Wells Fargo is a diversified financial services company with operations around the world. It is the fourth largest bank in the US by assets and the third largest bank by market capitalization. Also Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. Wells Fargo offers a range of financial services in over 80 different business lines.

We gathered our information from two different branches: the Grant Street location of Chinatown in San Francisco, and in Pinole. We managed to receive three different interviews from the Chinatown location and one from Pinole. This helped our group take in different perspectives into account while creating this project. This also was a great way to understand Wells Fargo’s practices clearly and effectively. Since each interviewee was different, all the interviews added a unique touch to our information.

The Hiring Process Applications
The first step in the hiring process is the online application. Online applications are the new way of applying to jobs. Many companies are now switching from traditional applications at the palce of business to just applying online only. Candidates are required to first access the Wells Fargo website and submit an electronic application with an attached resume with the location of the branch you want to...
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