Wells Fargo : Course Work

1166 WordsNov 22, 20165 Pages
Wells Fargo: course work “Explain the role of Wells Fargo in the financial system. Assess its exposure and performance from 2009-2016, after the global financial crisis, including a comparison with peers. Did it do well or badly?” The bank Wells Fargo is an American international banking and financial services holding company which was founded in 1852 by Henry Wells and William G. Fargo in New York. As of the end of 2015, the total assets of Wells Fargo are more than $1.7 trillion, ranking 3rd all over the U.S. And in 2013, Wells Fargo surpassed ICBC and became the world’s largest bank by market capitalization for the first time, then exchanged the top bank place with ICBC for four times in the next years. Wells Fargo today is a result of merger between San Francisco–based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte-based Wachovia. Now, it has become the only U.S. bank to have the highest possible credit rating from both Moody 's Investors Service, "Aaa", and Standard & Poor 's Ratings Services, "AAA”. And also, it was one of the minority of the companies who had gotten through the financial crisis in 2007 stably compared with peers. So, this report will focus on the performance of Wells Fargo after the financial crisis to see how well did it do in the post-crisis times and try to find out the reason of its success. Description of its business activities and performance As a diversified,
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