- Business
- Wells Fargo & Company (NYSE: WFC) operates as a diversified financial services holding company that provides banking, investment, mortgage, consumer finance, and commercial lending products and services through its four primary operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. The company offers personal banking products including checking and savings accounts, certificates of deposit, debit and credit cards such as Wells Fargo Rewards cards, personal loans, auto loans, home mortgages and refinances; business banking solutions encompassing business checking, SBA loans, payroll services, treasury management, and merchant services; wealth management services through Wells Fargo Advisors featuring individual retirement accounts, investment advisory programs, brokerage services, insurance products, and brokered liquid deposits; as well as corporate and investment banking capabilities such as commercial real estate loans, syndicated lending, debt and equity underwriting, mergers and acquisitions advisory, trading in equities, fixed income, foreign exchange, commodities, and derivatives. Founded in 1852 and headquartered in San Francisco, California, Wells Fargo maintains a significant presence in the United States with operations in approximately 35 countries, serving consumers, small businesses, middle-market companies, large corporates, and institutional clients through physical branches, digital platforms including Wells Fargo Online and Mobile app, and ATMs. In recent developments, the company completed the acquisition of its merchant services joint venture in April 2025, boosting card fees through integrated revenue streams; announced a multi-year co-branded auto financing agreement with Volkswagen and Audi brands in 2024; acted as exclusive financial advisor and sole underwriter for Quikrete Companies' $11.5 billion acquisition of Summit Materials, which closed in February 2025; formed a strategic partnership with Centerbridge Partners introducing Overland Advisors for direct lending to commercial clients; expanded its relationship with Google Cloud in August 2025 to enhance technology infrastructure; launched new credit cards including a small business card in 2024, driving over 2.4 million new accounts; sold the non-agency portion of its commercial mortgage third-party servicing business in first quarter 2025; and achieved regulatory milestones including the Federal Reserve's lifting of the $1.95 trillion asset cap in Q2 2025 and closure of multiple consent orders related to sales practices and risk management since 2019.