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Wells Fargo to impose 25% withholding tax rate across adviser network
In an effort to harmonize its legacy payroll systems, Wells Fargo Advisors LLC will create a standard withholding…
Wells Fargo Advisors unveils new bonus plan for brokers
In an effort to get its advisers to focus on snagging more of their existing clients' assets, along with new clients, Wells Fargo Advisors LLC has introduced a new rewards program in its deferred-compensation plan.
Wells Fargo to return $1.3B to auction-rate investors
Wells Fargo Investments LLC will return about $1.3 billion to investors who suffered losses in the auction-rate-securities market, according to the North American Securities Administrators Association Inc.
Wells Fargo to pay cash for Prudential’s stake in brokerage unit
Wells Fargo & Co. today said that it would buy up Prudential Financial Inc.'s minority stake in Wells Fargo Advisors LLC, shelling out cash for the purchase.
Wells Fargo prices stock offering at $25 a share
Wells Fargo & Co. said Tuesday it will sell stock for $25 per share to help repay $25 billion in government bailout money.
Wells Fargo 3Q profit rises to $3.2 billion
Wells Fargo & Co. says its third-quarter profit nearly doubled from a year ago although it joins other big U.S. banks in reporting higher loan losses.
Wells Fargo and Bank of New York Mellon sued over role in Medical Capital ‘scam’
The two trustees of Medical Capital Holdings Inc.'s private placements, Wells Fargo & Co. and The Bank of New York Mellon Corp., have been sued by investors seeking class action status.
Wells Fargo’s Ann Miletti: ‘The days of 20% or 30% annual returns are not going to be possible’
The latest data showing unemployment now at its highest level in 26 years translates into a challenge for stock pickers over the next several years, according to Ann Miletti, who manages more than $2 billion for the Wells Fargo Funds Management Group.
Baird snags Wells Fargo adviser, opens retail office in Denver
Karen Ogard, a 26-year industry veteran, last week left Wells Fargo Advisors LLC, where she was in the brokerage's Greenwood Village, Colo., office, and joined Robert W. Baird & Co.
TD Ameritrade snags exec from Wells Fargo Advisors
Online brokerage TD Ameritrade Holding Corp. said Monday it has named David Kimm chief risk officer, starting in October.
Morgan Stanley Smith Barney vet bolts for UBS
Brokers are on the move again. Christopher Miller, a former executive vice president and Southwest regional director…
Wells Fargo chairman Kovacevich to step down
Wells Fargo & Co. said Tuesday that Dick Kovacevich will step down as chairman at the end of 2009, after agreeing last fall to stay to help the bank deal with the financial crisis.
Wells Fargo exec fired for entertaining in Madoff victim’s home
Wells Fargo & Co. has fired an executive who reportedly partied and stayed at a bank-owned $12 million beach house in the exclusive Malibu Colony, the bank said Monday.
Report: Wells Fargo exec partied in beach house surrendered by Madoff victim
A Wells Fargo & Co. executive who oversees foreclosed properties hosted parties and spent long summer weekends in a $12 million Malibu beach house, moving into the home just after it had been surrendered to Wells Fargo to satisfy debts, neighbors said.
Wells Fargo Advisors snags $345M Citigroup team
Pedro Nieves, a top Citigroup adviser, and his team recently left the firm and joined the New York office of Wells Fargo Advisors.
Wells Fargo sued over home equity lines of credit
Wells Fargo is facing a lawsuit claiming the bank illegally reduced the size of customers' home equity lines of credit.
Ex-rep claims discrimination in lawsuit
A former broker with Wells Fargo Advisors LLC of St. Louis has sued the firm for sexual discrimination.
Wells Fargo increasing executives’ salaries
The salary increases will not come as cash payments, but instead through the issuance of company stock. The stock cannot be sold until the TARP money is repaid.
Government to lenders: ‘Ramp up’ loan modifications
The Department of the Treasury expressed dissatisfaction yesterday with the number of trial loan modification initiated through July 31 and has asked the 38 loan providers participating in the federal government's Home Affordable Modification program to “ramp up” their efforts.
Wells Fargo 2Q profit of $2.58B surpasses expectations
Wells Fargo has joined other big banks in reporting significant second-quarter results, with a 47 percent rise in profit helped by its acquisition of Charlotte, N.C.,-based Wachovia Corp.
