A Change in Wells Fargo
Organizational Excellence and Change
Wells Fargo is an American multinational banking and financial services holding company headquartered in San Francisco, California. Throughout the country there consists a multitude of locations ranging from finical services buildings, to an everyday bank. It currently is regarded as the fourth largest bank in the U.S. by assets, and remains the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States.(Forbes) The company operates across 35 countries and has over 70 million customers globally. In 2012, it had more than 9,000 retail branches and over 12,000 automated teller machines in 39 states and the District of Columbia. As of July 12, 2013, Wells Fargo became the world's biggest bank by market capitalization, worth $236 billion, beating ICBC. In February 2014 Wells Fargo was named the world's most valuable bank brand for the 2nd year running in The Banker and Brand Finance study of the top 500 banking brands. Despite the economy WFC reported $5.6 billion in net income for its fourth fiscal quarter of 2013. (M. McGrath Forbes 2014). In the last year it has pushed into the “Big Apple” New York. Although the company operates on a global level, to this day has a reservation on globalization as a whole. It is no secret that most people that are vested in such institutions would have any faith of big banks since the bailout of 2008. Problem:
(1)Even though there is a decline of loan charge-offs declined from last quarter and the year-ago quarter, there should be more measures taken to further minimize loan charge-offs. A loan charge off is an account that is 180 days past due. Because a charge off is considered a loss, companies can write it off on their taxes. Making lemonade out of lemons never...
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