All About Wells Fargo

The Wells Fargo bank has started Over 150 years ago, by Henry Wells and William G. Fargo company that has become a legendary part of America. Wells Fargo is a financial services company in the United states and it has expanded its business in canada Northern Mariana Islands and the Caribbean. Its head quarters is located in Sanfrancisco, California. Wells fargo offers different financial services to their customers. Apart from these the company is acting as a stock brokers in retail branches, and they are serving banking customers also. Not only these but the company works out in three main areas such as reatial banking, wholesale banking, consumer finance.

Retail Banking: In Retial banking there are segments such as commmunity banking, card services, consumer credit, consumer deposit groups. The customers who are very close to this company are provided with more services to purchase multiple products. Different packages are available to their customers in different form and various discounts are provoided by this company are:

1) "Wells Fargo Membership Account" which has tied to payroll direct deposit from a participating employer.
2) "Wells Fargo Advantage Account" is tied to balances in multiple deposit accounts, loans, or a home mortgage.
3) "Wells Fargo Portfolio Management Account" tied to balances in brokerage accounts, IRAs, deposits, and loans.

Wells Fargo also have around 400 stand alone mortgage branches throughout the country. It also does mortgage wholesale lending through independent mortgage brokers.

Wholesale Banking: In this products are sold to large companies and to thier customers on wholesale basis. In whole sale banking there are treasury management, mutual funds, asset-based lending, commercial real estate, and some investment banking. Wells Fargo historically has avoided large corporate loans, and insisted that borrowers purchase other products with loans. One area that is very profitable to Wells however is asset-based lending: lending to large companies using assets not normally used in other loans. The main brand name for this activity is "Wells Fargo Foothill", which regularly publishes tombstone ads in the Wall Street Journal. Wells Fargo is the largest "real estate investment bank", which assists commercial property owners in obtaining funds in the capital markets, as opposed to direct lending by Wells Fargo itself.Wells Fargo has large private equity business, which is still remembered as the Norwest brand name. This was the most successful private equity company in 2003.