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WELLS FARGO CASE ANALYSIS By: Annette Garcia Mikey Tran Thy Nguyen Omar Ennabe April 24, 2007 Wells Fargo & Co. is a diversified financial services company in the
Financial Case Analysis Wells Fargo Bank & Co. Henry Wells and William Fargo founded Wells Fargo & Company (WFC) in 1852. Wells Fargo (WFC) is a diversified financial
in an effort to gain a competitive advantage over their main competitors, Bank of America and Wells Fargo, a main area that needs improvement is clear: customer satisfaction.
our common sense, but this factor very helps companies from good to great. Bank of America versus Wells Fargo is the perfect case shows us how the concept works.
them with others. He also mentions the importance of the team and the respect they deserve. (Wells Fargo, 2007) Another factor is the SWOT analysis where the company's
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By:
Annette Garcia
Mikey Tran
Thy Nguyen
Omar Ennabe
April 24, 2007
Wells Fargo & Co. is a diversified financial services company in the United States with consumer finance subsidiaries doing business in Canada and Puerto Rico.
Headquartered in San Francisco, California, Wells Fargo is a result of a merger between California-based Wells Fargo & Co. and Minneapolis-based Norwest Corporation in 1998. The new company chose to keep the name Wells Fargo, to capitalize on the 150 year history of the nationally recognized Wells Fargo name and its trademark stagecoach.
Wells Fargo & Co. is one of the United States top-40 largest private employers. They ranked fifth in assets and fourth in market value of their stock among their peers.
As of December 31, 2006, Wells Fargo has 6,062 retail branches, over 23 million customers, and 158,000 employees.
The company credits its success to its diversified financial services shown below.
History
On March 18, 1852, in New York City, Henry Wells, William Fargo and others signed an article of association for a joint stock company to do banking and express business in distant California. The company opened its first office, in San Francisco, in July 1852.
In 1853, the immediate challenge that faced the presidents of the company (Morgan and Barney) was to try and establish the company in two highly competitive fields under conditions of rapid growth and unpredictable change. At the time California did not regulate the banking or the express industry so both fields were wide open. Because it was so easy for anyone to establish a bank, Wells Fargo actually entered the market pretty late and faced well established competition.
From the beginning, Wells Fargo offered diverse and mutually supportive services: general forwarding and commissions; buying and...
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