Wells Fargo & Co.

Overview

Date Founded

1852

Headquarters

425 E Hennepin Ave, Minneapolis, MN, 55414, US

Type of Company

Public

Employees (Worldwide)

260K

Industries

Retail & Commercial Banking
Other Business & Consulting Services
Other Insurance Services
IT Consulting & Services
Management Consulting
Consumer Finance
Holding Companies
Accounting & Financial Services

Company Description

Wells Fargo & Co. is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other. The Community Banking segment offers complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, and small business lending. The Wholesale Banking segment provides financial solutions to businesses across the United States and globally. The Wealth and Investment Management segment includes personalized wealth management, investment and retirement products and services to clients across U.S. based businesses. The Other segment refers to the products of WIM customers served through community banking distribution channels. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA.

Website

http://www.wellsfargo.com

Contact Data

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Executives & Employees

Charles W. Scharf

Chief Executive Officer & President

Mary Schaffner

Senior Company Counsel & Assistant Secretary

Michael P. Santomassimo

Senior Executive Vice President & Chief Financial Officer

Scott Powell

Senior Executive Vice President & Chief Operating Officer

Ellen R. Patterson

Senior Executive Vice President, General Counsel

Debra J. Chrapaty

Chief Technology Officer

Paula Dominick

Chief Compliance Officer

Amanda G. Norton

Senior Executive Vice President, Chief Risk Officer

Milind Nagnur

Chief Information Officer

Mary Katherine DuBose

Chief Credit Officer

Board of Directors

Charles H. Noski

Former Executive Vice President & Chief Financial Officer at Bank of America Corp.

Charles W. Scharf

Chief Executive Officer & President at Wells Fargo & Co.

Theodore F. Craver, Jr.

Chief Executive Officer at Managed Health Network, Inc.

Ronald L. Sargent

Former Chief Executive Officer at Staples, Inc.

Donald M. James

Former Chairman & Chief Executive Officer at Vulcan Materials Company

Maria R. Morris

Executive Vice President at Wells Fargo Bank, National Association

Richard B. Payne, Jr.

Former Vice Chairman-Wholesale Banking at U.S. Bancorp

Mark A. Chancy

Former Chief Financial Officer & Senior Executive Vice President at SunTrust Banks, Inc.

Suzanne M. Vautrinot

President at Kilovolt Consulting, Inc.

Wayne Hewett

Former Member at New York Angels, Inc.

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Wells Fargo & Co.

Owners & Shareholders

Details Hidden

Dodge & Cox, Inc.

Dodge & Cox employs in-house, fundamental bottom-up research, a rigorous valuation discipline, and maintains a long-term investment horizon. Their investment decisions are made by a team of seasoned investment professionals. The firm’s approach stresses an evaluation of risk relative to opportunity and they seek investments that they believe are undervalued by the market.

Details Hidden

Sanders Capital LLC

Sanders Capital employs a value-driven approach that is based on the belief that investors systematically overreact to adversity, unduly depressing the price of the affected assets, thus producing investments with above-average risk-adjusted returns. The firm’s investment process include valuation, research review and portfolio construction/risk assessment. Sanders Capital sources investments for their portfolios from a broad range of financial assets in all parts of the global capital markets including: common and preferred stock and related options, corporate debt (bonds and bank loans), municipal debt securities, commercial paper, and US government securities. They may invest in commodity futures to actively manage risks and seek opportunity in non-dollar investments.

Details Hidden

Eagle Capital Management LLC

ECM seeks to achieve investment returns superior to broad equity market indices in both up and down markets. They uses a fundamental, bottom-up, research-driven approach to find undervalued companies that will experience long-term secular change. The firm offers one strategy, the Eagle Equity portfolio, which they have managed since its inception. The Eagle Equity strategy invests in US traded public equities. From time to time, investments may include companies trading in the form of ADRs of non-US corporations that fit their investment criteria. Each Eagle Equity portfolio typically holds 25 to 35 positions. ECM generally limits portfolio holdings to 10 percent portfolio weights at market value and they primarily invest in the securities of larger capitalization companies. From time to time, they may also consider lower-cap companies.

Recent Transactions

Details Hidden

Apollo Global Management, Inc. /Private Equity purchases Tech Data Corp.

Details Hidden

Marlaz Financial Group Ltd., GPM Investments LLC purchase Empire Petroleum Partners LLC from PineBridge Private Equity Group, Sachs Capital LLC, Riveria Investment Group, American Infrastructure Funds LLC

Details Hidden

Insurance Acquisition Corp. purchases Shift Platform, Inc.

Transaction Clients

Escrow Agent

Bright Horizons Family Solutions, Inc.

Advised on Bright Horizons Family Solutions, Inc. issued . USD Common Stock

Investment Advisor

Laboratory Corporation of America Holdings

Advised on Laboratory Corporation of America Holdings purchases Covance, Inc.

Investment Advisor

Umpqua Holdings Corp.

Advised on Umpqua Holdings Corp. purchases Humboldt Bancorp

Transaction Advisors

Auditor

KPMG LLP

Advised onWells Fargo & Co. issued USD Common Stock

Accountant

KPMG Peat Marwick LLP

Advised onWells Fargo & Co. purchases First Security Corp. (Utah)

Legal Advisor

Mayer Brown LLP

Advised onBesso Holdings Ltd. /Private Group purchases Besso Insurance Group Ltd. from Union Hamilton Reinsurance Ltd.

Legal Advisor

Elizabeth A. Raymond

Advised onWells Fargo & Co. purchases General Electric Capital Corp /Finance Businesses (3) from General Electric Company

Chair, Finance & Restructuring Practice

Jennifer Yount

Advised onSouthwire Co. LLC purchases Coleman Cable LLC

Associate/Law Clerk

A. Rebecca Hurt

Advised onAllergan Plc purchases Allergan, Inc.

Advisors & Consultants

Advisor

Dan Simkowitz

President & Managing Director at Morgan Stanley Investment Management, Inc.

Legal Advisor

Graham Lim

Partner at Jones Day

Legal Advisor

Jon H. Oram

Partner at Proskauer Rose LLP

Clients

BlackRock Financial Management, Inc.

BFM utilizes fixed-income strategies that are actively managed, model or index based. Actively managed fixed-income mandates generally employ an active investment style that emphasizes rotation among different types of debt on a relative value basis, specific security selection, quantitative analysis of each security and the portfolio as a whole and intensive credit analysis and review. They utilize a risk-controlled, systematic process for portfolio construction and alpha generation. Alpha sources may include security selection, duration and yield curve positioning, industry rotation, asset allocation, and currency positioning. BFM's equity platform includes a broad range of products that vary according to investment style (active, scientific and passive management), market-cap (small-, mid-, small/mid-, large- and all-cap), and geography (global, international and regional). The product range may also include sector funds, long-only and long-short portfolios, as well as products that combine different strategies to create balanced and asset allocation portfolios.

Carlyle Investment Management LLC

Carlyle Investment Management LLC provides investment advisory services. It provides retail insurance and investment services across the US. The company's life insurance products include universal life insurance, term life coverage, and variable annuities. It was founded in 2007 and is located in Washington, DC.

Blackstone Liquid Credit Strategies LLC

BLCS evaluates potential opportunities and investments using an investment process which include a variety of proprietary and non-proprietary research models and methods of analyses. They use a variety of both internal and external resources including financial newspapers and magazines, research, and reports provided by third parties and corporate ratings services. The firm conducts an in-depth review of the target companies/investments, tailored to the target and type of potential investment they are considering.

Key Stats and Financials As of 2020

Market Capitalization

$158B

Total Enterprise Value

$391B

Earnings Per Share

$0.41

Revenue

$80.3B

Enterprise Value / Sales

4.86x

TEVNet Income

118.34x

Debt TEV

0.7x

Net Profit

$3.3B

Total Debt

$272B

Total Equity

$186B

Three Year Compounded Annual Growth Rate Of Revenue

-8.06%

Non-Profit Donations & Grants

$1.3M

2019

United Way Worldwide

$25K - $50K

2019

Junior Achievement of New York

$1,000 - $2,499

2019

Mount Mercy University

Non-Profit Donations & Grants Received

$2,929

06/30/2013

Luberski Family Foundation, Inc.

Political Donations

$1,000

2014

Jeff E. Mullis

$25K

1996

National Republican Senatorial Committee

Investments

Details Hidden

Saga Resource Partners LLC

Saga Resource Partners LLC formed to acquire the Black Warrior Basin assets of Saga Petroleum Corp. and Black Warrior Basin coal-bed methane assets. It was one of the coal-bed methane producers in the Black Warrior Basin of Alabama and has wells of over 170 billion cubic feet of natural gas. It will continue Saga's environmentally sound and operationally efficient drilling and production processes. The company was headquartered in Denver, CO.

Details Hidden

Socure, Inc.

Socure, Inc. provides online identity verification application. It develops ways to mitigate identity fraud risks for businesses. The firm's Social Biometrics technology applies artificial intelligence and machine-learning techniques with online/offline data intelligence from email, phone, address, IP, social media and the broader Internet to authenticate identities in real-time. The company was founded by Johnny Ayers and Sunil Madhu in 2012 and is headquartered in New York, NY.

Details Hidden

Apeel Technology, Inc.

Apeel Technology, Inc. operates as a biotechnology company. It offers Edipeel and Invisipeel solutions. The firm specializes in sustainable technologies, crops, food, agricultural services, health, environment and organic. The company was founded by James Rogers in 2012 and is headquartered in Santa Barbara, CA.

Investors

Details Hidden

Archibald Gavin Hamilton

Fund Advisor at Jupiter Asset Management Ltd.

Details Hidden

Michael David Bishop

Life Peer at United Kingdom House of Lords

Details Hidden

Paul Clive Deighton

Life Peer at United Kingdom House of Lords

Suppliers

Corporate Office Properties Trust, Inc. Trusts & Funds | Columbia, MD

Corporate Office Properties Trust, Inc. is a real estate investment trust, which acquires, develops, manages, sells, and leases out office properties and data centers. The firm operates through the following segments: Defense/Information Technology Locations, Regional Office, Wholesale Data Center, and Other. The company was founded in 1988 and is headquartered in Columbia, MD.

Radian Group, Inc. Real Estate | Philadelphia, PA

Headquartered in Philadelphia, Radian connects lenders, homebuyers, investors and loan servicers using a suite of private mortgage insurance and related risk management products and services. We help promote and preserve the tradition of homeownership while protecting lenders from default-related losses on residential first mortgages. We also facilitate the sale of low-downpayment mortgages in the secondary market. Our commitment to homeownership is built on a foundation of evaluating credit risk; we help clients and investors expertly and prudently manage risk in any market condition. Radian Group Inc. is traded on the New York Stock Exchange under the symbol RDN.

Ixia Solutions Group Internet Software & Services | Calabasas, CA

Ixia Solutions Group provides multi-port network performance analysis services. The firm’s products and services include test applications, security products, visibility products, cloud, performance monitoring, test hardware, training, testing as a service and test consulting. It offers architecture, technologies and segments. The company was founded by Errol Ginsberg and Jean-Claude Asscher in May 1997 and is headquartered in Calabasas, CA.

Awards & Honors

Rank #27

2016

Fortune Magazine - Fortune 1000 Companies