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Finance & Accounting
Pages 7 (1757 words)
Wells Fargo is a stable and long term company providing financial products such as banking, mortgages, credit cards, insurance, and investment services to consumers and business clientele. Wells Fargo’s mission, vision, and values have propelled them through rough financial times in the great depression as well as the current economic downturn.
Wells Fargo must ensure that their upper level management pays close attention to the external environment with emphasis on governmental and legal changes to the industry standard. Wells Fargo has been in business since 1852. Their first office opened in San Francisco during the gold rush. The stage coach was used to transport gold and other valuables. Wells Fargo helped establish the Great Overland Mail service continuing to use the stagecoach but also adding steam ship, rail road, pony rider, and telegraph. From their humble beginnings they expanded from California to the rest of the nation. In 1910 they had 6,000 locations nationwide. Then the federal government took over due to the First World War leaving Wells Fargo with just their initial San Francisco location. Once again Wells Fargo was resistant and expanded again. By 1990 they gained back all of their locations across the nation. In the 1980’s Wells Fargo was the seventh largest bank in the nation. (Wells Fargo, 2011) Wells Fargo continued to expand throughout the Midwest with their merger with Norwest in 1998. The merger combined the largest bank presence on the West coast with the largest presence in the Midwest. ...
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