...Introduction Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet across North America and internationally. They are headquartered in San Francisco; however, they’re decentralized so every local Wells Fargo store is a headquarters for satisfying all their customers’ financial needs. This has led to a large customer base, which Wells estimates that one in three households in America does business with them. Wells Fargo has $1.2 trillion in assets and more than 278,000 team members across their 80+ businesses. They ranked fourth in assets, and third in market value of their stock among their U.S. peers as of March 31, 2010 ("Wellsfargo.com," 2010). Wells Fargo’s company vision is stated as, “We want to satisfy all 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.” This statement has led them to have an outstanding reputation in the community. They have been recognized in the following publications: FORTUNE 19th in Revenue among All Companies in All Industries (2010), World’s 39th Most Admired Company (2010), Forbes One of America’s Best Big Companies (2008), Top 100 Best Companies in the World (2010), Barron’s World’s 50 Most Respected Companies (2010), BusinessWeek Best Places...
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...D Diversity Analysis of Wells Fargo MGMT 360-51 Team - Multiplicity Shannon Willy Darren Cattnach Jeannine Petersen Edward Davis Cindy Sellner Metropolitan State University Summer 2010 Executive Background Introduction Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet across North America and internationally. They are headquartered in San Francisco; however, they’re decentralized so every local Wells Fargo store is a headquarters for satisfying all their customers’ financial needs. This has led to a large customer base, which Wells estimates that one in three households in America does business with them. Wells Fargo has $1.2 trillion in assets and more than 278,000 team members across their 80+ businesses. They ranked fourth in assets, and third in market value of their stock among their U.S. peers as of March 31, 2010 ("Wellsfargo.com," 2010). Wells Fargo’s company vision is stated as, “We want to satisfy all 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.” This statement has led them to have an outstanding reputation in the community. They have been recognized in the following publications: FORTUNE 19th in Revenue among All Companies...
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...Commercial Bank: Wells Fargo Background: Wells Fargo is the largest bank in terms of market capitalization and the fourth largest bank in the United States in terms of assets. The present Wells Fargo is a result of a merger between San Francisco-based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998. Later on October 3, 2008, Wells Fargo acquired Charlotte-based Wachovia for about $15.1 billion in a stock-for-stock transaction. Its headquarters is currently located in San Francisco, California. Wells Fargo is a diversified financial services company that provides credit cards, consumer banking, corporate banking, investment banking, global wealth management, financial analysis, private equity, insurance and etc. Wells Fargo and the 2008 Financial Crisis | Before the crisis | During the crisis | After the crisis | Profitability Ratios | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | ROA% (Net) | 1.76 | 1.52 | 0.28 | 0.96 | 0.99 | 1.23 | ROE % (Net) | 19.6 | 17.23 | 3.61 | 11.64 | 10.38 | 11.90 | Net Interest Margin % | 61.88 | 59.62 | 72.05 | 82.32 | 84.77 | 86.54 | Calculated Tax Rate % | 33.45 | 30.70 | 18.48 | 29.62 | 33.36 | 31.47 | | | | | | | | Debt Management | | | | | | | Total Debt to Equity | 9.51 | 11.08 | 12.22 | 10.13 | 8.95 | 8.37 | Equity Multiplier | 10.51 | 12.08 | 13.22 | 11.13 | 9.95 | 9.37 | | | | | | | | Asset Management | | | | | | | Total Asset Turnover | 0.1 | 0.1 | 0.05 | 0.08...
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...working your way up from the factory floor, after the company sent you to college. Your boss just told you, in complete confidence, that the company will have to lay off 200 workers. Luckily, your job won’t be affected. But a rumour is now circulating in the plant and one of your workers (an old friend who now works for you) asks the question, “Well Pat, what’s the word? Is the plant closing? Am I going to lose my job? The closing on our new house is scheduled for next week, I need to know!” What should you say? What will you say? 2. As an operations professional, you need to be able to interact effectively with many internal customers – from corporate managers to field representatives. One of your peers is Jessica, who is a talented operations professional, but who is downright rude to her internal customers. Her attitude is so bad, that people around your company ask specifically to deal with you instead of Jessica. You’ve heard many tales about her sarcasm and her unwillingness to deliver anything other than the absolute minimum to other employees. You’ve thought about talking to Bruce, the manager to whom you and Jessica report, but you and everyone else knows that they are dating. In the meantime, your workload is increasing because of Jessica’s reputation? How do you handle Jessica...
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...Financial Analysis of Wells Fargo Bank Analyze the company’s mission and vision statements against the performance of the organization. Then, evaluate how well the company lives out its mission and vision statement. Provide support from the organization’s performance in your evaluation. The mission statement of Wells Fargo, like most other banks, centers around getting as much money and financial obligation from each individual as possible. “We want to satisfy all our customers’ financial needs and help them succeed financially.” To further clarify that mission Wells Fargo says, “We believe our customer can save more time and money if--- after carefully shopping around and comparing choices --- they bring all their financial services to one trust provider.” Wells Fargo has lived up to its mission statement by becoming the nation’s largest financial institutions, serving one in three U.S. households and employing over in 500 working Americans. Regardless of the growing size, scope and reach, Wells Fargo common visions and distinct values form the fabric that holds the company together. As a team member of Wells Fargo, I can say it doesn’t matter what my responsibility is, or my titles, the business of the company is what I work for. Wells Fargo is one of the few American companies doing business for longer than 150 years under its founding name and in its original line of business: banking. Banking has changed in many ways through the years...
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...The industry environment that Wells Fargo is a part of is made up of threats of new entrants, supplier power, buyer power, and substitute products. When it comes to the threat of new entrants in the financial industry there is no threat for Wells Fargo. The financial industry requires a lot of capital and trust. Currently none of the industry has a lot of trust but they do have capital to make investments and decisions that a new entrant to the industry does not have. There is an extremely high entry barrier in the financial industry. When it comes to supplier power, the supplier concentration is mainly related to capital in the financial industry. With capital being difficult to obtain, the suppliers do hold a lot of power over the financial industry. One of Wells Fargo’s advantages is that that they hold a large amount of capital and have the ability to invest and keep mortgages on their own portfolio. Buyer power is high in the financial industry. The financial services industry is a service based industry, meaning if they do not please the consumer then they lose the customer. The products available by the financial industry are very similar. Although Wells Fargo puts a lot of effort into differentiating their product, the customer will go elsewhere if they feel as though they are not treated right. . Rivalry among existing firms exists between Wells Fargo, and the three following competitors: US Bancorp, Bank of America and Citigroup, this being said there is a...
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...Wells Fargo Bank & Co. Henry Wells and William Fargo founded Wells Fargo & Company (WFC) in 1852. Wells Fargo (WFC) is a diversified financial services company and one of the United States' top-40 largest private employers. Headquartered in San Francisco, Wells Fargo is decentralized so that every local Wells Fargo store is the headquarters for their customers. The vision of Wells Fargo is to satisfy all their customers' financial needs, while helping them succeed financially, Wells Fargo desires to become known as one of America's great companies and the number one financial services provider in each of their markets. Today Wells Fargo is the only Moody's "Aaa" rated bank in the United States as well as one of the industry leaders in financial services competing in virtually every segment of the financial industry. Wells Fargo & Company (the Parent) is a financial holding company and a bank holding company. Wells Fargo is a distributor of financial service products via the Internet and other distribution channels across North America and elsewhere internationally. With 11 Executive Officers and 14 Board of Directors, Richard Kovacevich Chairman, President and CEO continues to lead the company into the 21 century by connecting to the past while focusing on the future. The company is a $420 billion dollar financial services company providing banking, insurance, investments, mortgage and consumer finance to the United States and abroad. WFC strives to provide its customer...
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...Term Paper: Wells Fargo in Ireland | | | | | | Wells Fargo was founded in 1852 by Henry Wells and William G. Fargo and opened for business in the gold rush port of San Francisco. Wells Fargo offered banking (buying gold and selling paper bank drafts as good as gold) and express delivery of the gold and anything else valuable. By the 1860s, Wells Fargo earned everlasting fame and its corporate symbol, the stagecoach. In 1888, Wells Fargo became the country’s first nationwide express company. By 1918, Wells Fargo was part of 10,000 communities across the country, however that year the federal government took over the nation’s express network as part of its effort in the First World War and Wells Fargo was left with just one bank in San Francisco eventually expanding in 1923 to two banking halls. In the 1980s, Wells Fargo expanded into a statewide bank, became the seventh largest bank in the nation, and launched its online service. In the 1990s, Wells Fargo returned to its historic territory throughout the Western, Midwestern and Eastern states. Today, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. According to Forbes.com, as of May 2013 Wells Fargo’s market cap was $201.35 billion. Wells Fargo’s global...
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...(MAHRM) STRATEGIC HR PLAN AT WELLS FARGO Jimmy Rios HRF7411-Human Resource Planning & Administration PROFESSOR: JIMMIE FLORES August 22, 2014 ONLINE SUMMER II, 2014 Summary The effective organization that I chose is Wells Fargo Bank because of my familiarity in having worked there for the last four years in different capacities. I will focus this paper on the functional HR Strategy towards staffing and retention at the consumer lending group and specifically on the division that I work in the automotive finance group and the Tempe, Arizona national call center. I will give a brief description of the history of Wells Fargo and its core products and services, detail the vision, mission and value statements and how they relate to the strategy that HR uses regarding its staffing and retention. I will delineate the system and metrics system used for their recruiting strategies and how the call center comes to a specific number to decide on how many people to hire. Company Background The Brand Finance Banking 500 in the February 2014 edition of Banker Magazine recognized Wells Fargo as the world’s most profitable bank. (Wells Fargo Tops, 2014) But they weren’t always on top. And to understand the high profit trajectory of a Bank like Wells Fargo, you have to understand their history and background. Wells Fargo has been in business since 1852 when it was founded by Henry Wells and William Fargo. (Wells Fargo Timeline, 2011) During the Gold...
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...Book Report Good to Great: Why Some Companies Make the Leap… and Others Don’t (Jim Collins, 1996) In his book “Good to Great” Jim Collins asked the question, "Can a good company become a great company and if so, how?" Collins and a devoted team of 22 researchers embarked to discover what transforms good companies into truly great companies. To begin the research for the Good-to-Great study, they searched for companies that: performed at or below the general stock market for at least fifteen years; then at a transition point began to pull away from the competition, and sustained returns of at least 3 times the general market for the next fifteen years. They started with a list of 1,435 companies that appeared on the Fortune 500 list from 1965 to 1995 and ended up with only 11 that made the cut. These eleven companies produced, on average, a return of 6.9 times the general stock market during the 15 years following the transition points. Collins chose a 15-year span to avoid "one-hit wonders" and lucky breaks. The companies that were selected were Abbott Laboratories, Circuit City, Federal Home Loan Mortgage, Gillette, Kimberly-Clark, Kroger, Nucor, Philip Morris, Pitney Bowes, Walgreens, and Wells Fargo. In the book, Collins highlights some important factors which are the result of the research. Although there are several factors involved for taking a company from good to great', what these great companies turned out to have in common was a particular kind of leader...
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...) Another type of card service offered through the treasury management program is procurement plus travel and entertainment which covers better control over spending limit, establishes separate spending allowances for purchasing and travel and also reports for all company spending (PNC, 2010.) These reports help businesses keep track of all spending and purchases made by any employee who holds a card or who has access to these funds. The cards for travel or entertainment are for medium to large sized companies. According to PNC, these help reduce time and cost. PNC also offers Active Pay. Active Pay helps maximize payment controls, enhance transaction and data management and increase financial benefit (PNC, 2010.) Although PNC’s website does not expand on how this is done they do have a contact number for any business that is interested in opening an account with their financial institute. PNC also boasts with their cash management programs they help lower fees for payments as well as balance transfers. With businesses transfers and payments off an account may be more than a personal account, so lower costs in bank fees is always appealing to any company. Another bank that offers treasury management services is Wells...
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...The history of the Company Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, California, with central offices throughout the country. It is the world's second largest bank by market capitalization and the third largest bank in the U.S. by total assets. In July 2015, Wells Fargo turn out to be the world's largest bank by market capitalization, edging past ICBC, before slipping behind Chase in September 2016. Wells Fargo beat Citigroup Inc. and become the third-largest U.S. bank by assets at the end of 2015. Wells Fargo is the second-largest bank in deposits, home mortgage servicing, and debit cards. In February 2014, Wells Fargo was named the world's most valuable bank brand for...
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...Running head Wells Fargo 1 Wells Fargo Deanna Hammond Professor McMullen Business 499 December 11, 2015 Running head Wells Fargo 2 Determine the impact of the company’s mission, vision, and primary stakeholders on its overall success. Wells Fargo’s vision “Our progress has not been perfect. The expectations of others, and the even higher expectations we have of ourselves, have not always been met. When we make mistakes, we admit them, we learn from them, and we keep moving forward with even more understanding and a deeper commitment to doing what’s right.” Wells Fargo wants to make sure the financial needs of its customers are met and to help them in anyway financially. Wells Fargo feels that if the customer does there homework and shops around and compares all the financial institutions it will be happy with the choice it makes to come or to stay with Wells Fargo. In the 1990’s Wells Fargo came out with a Vision and Values book but under Norwest Corporation at that time they were a small regional bank now Wells Fargo is a well known bank with a large global presence. Going back and keeping the traditions of each company they brought into make Wells Fargo what they are today is how the vision and values have all come about. Those beliefs are just as...
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...Wells Fargo Corporation Industry Analysis Wells Fargo is a $1.3 trillion diversified financial services company providing banking, insurance, trust and investments, mortgage banking, investment banking, brokerage and consumer finance through retail banking stores, the internet, worldwide. Wells Fargo has a strong foundation of corporate culture that is embedded in the vision. . It focuses on every aspect of the corporation’s stakeholders: team members, customers, communities, and shareholders. It focuses on how employees are able to adhere to the highest standard of efficient and ethical business practices. Wells Fargo strives to be number-one financial services provider in each of their markets. What Wells Fargo lacks is the future vision of the company’s operations. The revised mission statement of Wells Fargo Corporation is as followed: We are a bank that focuses on providing services that satisfy customer’s financial knowledge by providing our hard-working people. We will be the change of how financial institutions can play efficient roles in the community and individual’s businesses. Strategic Issues that Wells Fargo face is to whether it will focus on becoming a national/global bank or a local coast-to-coast bank that will deal with the local communities. These two business types can be harmful to the strategic implementation because of the questions of how it can market two banking segments and how it can compete with different types of banks: local and national/global...
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...Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Currently, Wells Fargo is the fourth largest bank in the United States by assets and the second largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit card. Overall, Wells Fargo is the 23rd largest company. Wells Fargo has been a company for over a century. It was first established by Henry Wells and William Fargo in 1852. The company was initially providing services to California. Since then, they have grown to be what they are today. Wells Fargo has had a lot of acquisitions. Most were very minor, but some were big mergers. These big mergers include the acquisitions of California-based Wells Fargo & Company by Minneapolis-based Norwest Corporation in 1998 and the 2008 acquisition of Charlotte, NC-based Wachovia. Since the aquisition, the company transferried its headquarters to San Francisco. Since then, Wells Fargo has grown to be known as one of the biggest, and one of the friendlist banks in the United States. In 2010, Wells Fargo had 6,335 retail branches (called stores by Wells Fargo), 12,000 HYPERLINK "http://en.wikipedia.org/wiki/Automated_teller_machines" automated teller machines, 280,000 employees and over 70 million customers. Wells Fargo operates stores and ATMs under the Wells Fargo and HYPERLINK "http://en.wikipedia.org/wiki/Wachovia" Wachovia names. Wells Fargo is...
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