Wells Fargo

     

       Many wonder exactly how the developments of banks have affected modern society as a whole. Slowly but surely, banks have became a second nature to humans. Everything from Debit and Credit cards to loans goes through banks. One of the most common banks throughout the entire world is known today as Wells Fargo. From Northwest Corporation in 1998 to Wells Fargo & Company upon the purchasing of Century Bank and Wachovia in 2008, Wells Fargo became the fourth holding company in the United States based on the National Information Center with an astonishing $1,488,055,00 Total Asset, most currently on December 31,2013 ("Top 50 holding," 2013).This media company is expanding rapidly each day with more than 9,000 stores and over 12,000 ATMS, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy ("Wellsfargo shareowner," 2013) With banks being such a high demand for money reasons, Wells Fargo & Company’s media holdings will continue to grow successfully.

            Wells Fargo & Company was founded in 1852 by Henry Wells and William Fargo. This bank is one of the most vastly known banks in the world. Many have heard this banks’ famous slogan, “Together we’ll go far”. Indeed this slogan is correct. Upon ample amounts of research of the company, an article from Galileo in November 11, 2013 is titled, “Wells Fargo Expands Commercial Banking in Madison” Julia Voss, who has been building the company’s commercial banking business in Madison, Wisconsin since 2010, was promoted to regional vice president and head of the new Regional Commercial Banking Office for south and southwest Wisconsin ("Wells fargo expands," 2013). Not only did this promotion help Voss, but also Wells Fargo as a whole by showing its commitment to the region and production of more customers ("Wells fargo expands," 2013). Basically, more customers equal more money. Fortunately, this will lead to even more media holdings in the long run.

            A popular branch of Wells Fargo & Company is the Shareowner services. These services include both stocks and investments. Many people in the United States invest in stocks. For example, Apple came out with the iPhone series. Believe it or not, the sales of these products skyrocket every year, simply because of the genius idea of developing a newer version of the phone that comes out every year. The latest iPhone is the 5s. Coming for a current user of the phone, I personally think it is an astonishing phone. However, I purchased this phone through T-Mobile after making the transition from AT&T back in January of 2014. Needless to say, the iPhone 6 is already under construction with even more technological gadgets and perks. With stock and sales rising, one should definitely consider buying stocks through Apple. Although companies have their bad days, you are more than likely investing in something positive rather than negative.

            In a recent article from Business Wire, a new study by GROUP FIVE states that Wells Fargo Shareowner services had received the industry’s highest satisfaction rating from corporate customers of U.S. security transfer agents (“Wells fargo shareowner,” 2013). GROUP FIVE is well known for their research poll studies. Every year, the company conducts studies to find out personal opinions of services provided by United States security transfer agents ("Wells fargo shareowner," 2013). Surprisingly, Wells Fargo produced an 88% percent consumer ranking and the highest overall ranking in satisfaction service and client fees and a 22.5% mortgage market share rate in houses ("Wells fargo shareowner," 2013) (Derousseau, 2013). With that being said, Wells Fargo contributes to pretty much everything from money to stocks, to even home mortgages. However, the mortgage market share is ridiculously high. “[Wells] has a lot to gain from a housing recovering,” says Morningstar analyst, James Sinegal (Derousseau, 2013). Even though Wells Fargo is the leading bank in home mortgages, the percentage shows the negatives of the holdings of the company as well. Although Wells Fargo is productive and successful, it will always have its faults just like any other large company in the world.

(Wells Fargo, 2014)

            In Conclusion, I believe that Wells Fargo is in fact one of the biggest media companies in the United States, if not the whole world. Whether a good or bad cause, media companies will always be around simply because it is an easy investment and source of money. For instance, you can drive through any city and there is at least some type of bank there. Furthermore, many banks compete against each other to try and collect customers. What made Wells Fargo like it is known as today was because of promotion of stores and ATMs. Wells Fargo will always be a relentlessly growing bank regardless of any of its negatives. If you do not believe it, next time you are in public, take a look around. More than likely, you will see the infamous red and gold sign or even the blue debit cards being swiped away.

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Works Cited

Eds.a.ebscohost.com. (2014). Wells fargo expands commercial banking in madison: discover galileo. [online] Retrieved from: http://eds.a.ebscohost.com/eds/detail?sid=70239fe1-aa10-4afa-9f6f-0a43d89af8cf@sessionmgr4001&vid=1&hid=4113&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ== [Accessed: 11 Feb 2014].

Eds.a.ebscohost.com. (2014). Stock x-ray: wells fargo: discover galileo. [online] Retrieved from: http://eds.a.ebscohost.com/eds/detail?vid=2&sid=ce421b2b-d800-4b47-b8ff-1a945b40863a@sessionmgr4001&hid=4113&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ== [Accessed: 11 Feb 2014].

Eds.b.ebscohost.com. (2014). Wells fargo shareowner services rated industry’s top transfer agent: discover galileo. [online] Retrieved from: http://eds.b.ebscohost.com/eds/detail?sid=82efb378-d934-46a8-b1c3-6a7c7d605c14@sessionmgr113&vid=1&hid=105&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ== [Accessed: 11 Feb 2014].

Ffiec.gov. (2014). Top 50 holding companies summary page. [online] Retrieved from: https://www.ffiec.gov/nicpubweb/nicweb/top50form.aspx [Accessed: 11 Feb 2014].

Wells Fargo. (2014). [image online] Available at: https://www01.wellsfargomedia.com/assets/images/photography/product/413x185/dcr_debitsweepsconspmf-cd3200_413x185.jpg [Accessed: 11 Feb 2014].