Office address: 420 Montgomery Street, San Francisco, CA 94104
Website: wellsfargo.com
Year established: 1852
Company type: banking
Employees: 217,000 (2024)
Expertise: retail banking, commercial banking, investment banking, wealth management, asset management, mortgage lending, treasury management, capital markets, insurance, global payments
Parent company: Wells Fargo & Company
Key people: Charles Scharf (CEO); Barry Sommers, Fernando Rivas, Michael Santomassimo, Derek Flowers, Scott Powell, and Kyle Hranicky (senior EVPs)
Financing status: corporation
Wells Fargo is a leading US bank headquartered in California, serving millions of clients nationwide. It delivers diverse financial and investment options, covering wealth management, asset management, and investment banking services. Managing over $2 trillion in assets, the company operates one of the largest investment advisory networks and is recognized as a Big Four US bank.
Wells Fargo began its story in 1852, when Henry Wells and William Fargo saw a need for reliable banking and express services during the California Gold Rush. Their company quickly became known for moving gold, mail, and freight across the growing American West. The famous Wells Fargo stagecoach soon became a symbol of trust and connection for people seeking opportunity.
The company played a key role in linking distant towns and cities, helping communities grow and thrive. By the late 1800s, Wells Fargo was handling express deliveries, banking, and even managing the western portion of the Pony Express. Its reach stretched from California to the Midwest, making it a household name for pioneers and businesses.
Wells Fargo faced many changes over the years, including government takeovers and new banking laws. In 1905, the express and banking businesses split, and the bank merged with Nevada National Bank. Through world wars, economic downturns, and the rise of new technologies, it adapted to meet the needs of each era.
A major milestone came in 1998, when Wells Fargo merged with Norwest Corporation, creating a coast-to-coast banking powerhouse. The company expanded further by acquiring Wachovia in 2008, which made it one of the largest banks in the US. Today, it stands as a leader in American banking, known for its resilience and commitment to serving millions of customers nationwide.
Wells Fargo’s offerings are structured to provide a range of options for independent advisors, individuals, and businesses. The company combines technology, national reach, and advisor support to deliver financial and investment solutions:
Wells Fargo also provides digital tools and platform enhancements to help advisors and clients manage their finances efficiently. The company’s national reach and experienced teams offer support and resources for a wide range of financial needs.
Wells Fargo states that its culture focuses on inclusion, support, and engagement for all employees. The work environment is described as one where people are encouraged to speak up and feel valued, with teamwork and respect emphasized.
Eligible employees at Wells Fargo receive a variety of benefits that support their health, finances, and work-life balance, including:
According to Wells Fargo, it supports social, economic, and environmental sustainability through business practices and community efforts. The company reports $178 billion deployed in sustainable finance over three years, including $16 billion for renewable energy. It also notes $55 billion in commitments to oil, gas, utilities, and over $15 billion for clean transportation.
Charles W. Scharf is CEO and President of Wells Fargo, leading the company’s strategy and operations since 2019. Scharf previously served as CEO of Bank of New York Mellon and Visa, and held executive roles at JPMorgan Chase. He brings over 30 years of experience in banking and payments, including leadership in both public and private companies.
Here are the key people overseeing Wells Fargo’s investment, banking, and financial management divisions:
The board and management state that they are committed to sound and effective corporate governance. Leadership aims to ensure strong oversight and clear accountability throughout the company.
Wells Fargo Investment Institute’s chief investment officer shared four signals that could support a longer bull market for clients. The firm highlights trends like AI growth, fiscal clarity, and broadening market strength as reasons for optimism through 2026. This analysis helps the company guide investors with strategies that match changing market conditions and future opportunities.
Wells Fargo Advisors also brought in four experienced professionals in 2025, adding nearly $1 billion in assets under management. The company’s new hires from UBS and JPMorgan show its focus on attracting advisors with strong client relationships and established books of business. This move expands Wells Fargo’s wealth management division and increases the firm’s total client AUM.
Houston-based advisers Brandon Glasscock and Mandy Haskell are joining the firm’s independent adviser channel.
The company is investing in its technology infrastructure — including digital initiatives and virtual tools — to improve the relationships between clients and their financial advisers.
Charlie Scharf earned $24.5 million last year, up from $20.3 million for 2020.
The RIA channel saw a net gain of 1,530 financial advisers in 2021, while the wirehouses had a net loss of 2,065.
Businesses and households have become increasingly concerned about avoiding 1970-style price shocks that crimp their spending power, which gives Fed Chair Jerome Powell the leeway to take a hawkish approach.
The hiring push comes after Merrill and Bank of America reported a 6.3% decline in financial adviser head count last year.
Brothers Blake and Drew Turner are joining the firm's Linsco employee channel in Atlanta.
No details about closing branches or offices of Wells Fargo Advisors locations were included in the filing with the Securities and Exchange Commission.
Richard DeYoung and Jessica Boehm opened their new firm, Highland Wealth Partners, in The Woodlands, Texas, and affiliated with LPL's Strategic Wealth Services.
Last year’s attempt to raise taxes on the wealthy has catalyzed conversations between advisers and clients about tax strategies this season.
Three arbitrators took Wells Fargo Advisors to task for what the firm said about Aaron Olson on his Form U5.
The three advisers operate as RCC Wealth Management in Spartanburg, South Carolina.
The bank said regulators including the Labor Department are looking at transactions related to the plan's employee stock ownership feature.
Clients are demanding access to digital assets. But how — and when — will brokers be able to sell them?
The TAMP doubled down on its vision to aggregate the 2 petabytes of consumer spending data it collects — roughly equivalent to 1 trillion pages of printed text or 40 million filing cabinets.
