- Business
- Wells Fargo & Company (NYSE: WFC) operates as a diversified financial services holding company providing banking, investment, mortgage, insurance, leasing, credit cards, and consumer and commercial finance products and services to consumers, businesses, and institutions. Founded in 1852 and headquartered in San Francisco, California, the company serves over 70 million customers worldwide through approximately 8,050 branches, 13,000 ATMs, and 2,000 stand-alone mortgage branches primarily in the United States, with international operations in 35 countries including offices in London, Dublin, Paris, Toronto, Singapore, Tokyo, and back offices in India and the Philippines. Core offerings encompass checking and savings accounts, credit and debit cards, home, auto, personal, and small business loans; online banking via Wells Fargo Online, mobile app, ATM services, bill pay, Zelle, digital wallets, wire transfers, foreign exchange, global remittances, safe deposit boxes, and cashier's checks; mortgage origination and servicing of $1.8 trillion in home loans; wealth management and investment advisory through Wells Fargo Advisors; equipment financing via Wells Fargo Rail; and corporate and investment banking including mergers and acquisitions advisory, such as its role as financial advisor to Sycamore Partners on the $23.7 billion acquisition of Walgreens Boots Alliance. In June 2025, the Federal Reserve lifted its asset cap imposed since 2018, enabling balance sheet growth, lending expansion, and entry into new business areas including wealth management; the company also ended its merchant acquiring joint venture with Fiserv in April 2025, plans branch network expansion in new and legacy markets following optimization, hired a senior Citigroup banker to lead its activism defense practice, and announced intentions to sell its San Francisco headquarters building in December 2024 while relocating nearby. Wells Fargo continues to prioritize efficiency gains, stable net interest income projected in line with 2024's $47.7 billion, and diversified segments across consumer banking, commercial banking for businesses with annual revenues from small to large corporates, and wealth and investment management.