Wells Fargo & Company is a diversified financial services company that provides a wide range of banking, investment, and financial products and services to individuals, businesses, and institutions . The company operates through four main segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management . These segments offer various financial solutions, including checking and savings accounts, loans, credit and debit cards, investment banking, and wealth management services .
- Consumer Banking and Lending - Offers financial products and services such as checking and savings accounts, credit and debit cards, and various types of loans to consumers and small businesses with annual sales up to $10 million .
- Corporate and Investment Banking - Delivers capital markets, banking, and financial products and services to corporate, commercial real estate, government, and institutional clients globally, including corporate banking, investment banking, and trading services .
- Wealth and Investment Management - Provides personalized wealth management, brokerage, financial planning, and private banking services to affluent clients .
- Commercial Banking - Provides financial solutions to private, family-owned, and certain public companies, including banking and credit products, secured lending, and treasury management .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Barry Sommers Executive | SEVP and CEO of Wealth & Investment Management | None | Barry Sommers has been with WFC since June 2020, leading Wealth & Investment Management. | |
Bei Ling Executive | SEVP and Head of Human Resources | None | Bei Ling is the Head of Human Resources at WFC. | |
Charles W. Scharf Executive | CEO and President | Board Member at Microsoft Corporation | Charles W. Scharf has been CEO and President of WFC since October 2019, focusing on risk management and digital transformation. | |
Derek A. Flowers Executive | SEVP and Chief Risk Officer | None | Derek A. Flowers has been with WFC for 25 years, serving as Chief Risk Officer since January 2022. | |
Ellen R. Patterson Executive | SEVP and General Counsel | None | Ellen R. Patterson is the General Counsel of WFC. | |
Fernando Rivas Executive | CEO of Corporate & Investment Banking | None | Fernando Rivas became the sole CEO of Corporate & Investment Banking in January 2025. | |
Kleber R. Santos Executive | SEVP and CEO of Consumer Lending | None | Kleber R. Santos is the CEO of Consumer Lending at WFC. | |
Kristy Fercho Executive | SEVP, Head of Diverse Segments, Representation & Inclusion | None | Kristy Fercho joined WFC in July 2020, previously leading Home Lending. | |
Kyle G. Hranicky Executive | SEVP and CEO of Commercial Banking | None | Kyle G. Hranicky is the CEO of Commercial Banking at WFC. | |
Michael P. Santomassimo Executive | SEVP and Chief Financial Officer | None | Michael P. Santomassimo is the CFO of WFC. | |
Muneera S. Carr Executive | EVP, Chief Accounting Officer, and Controller | None | Muneera S. Carr joined WFC in March 2020, previously serving as EVP and Controller. | |
Saul Van Beurden Executive | SEVP and CEO of Consumer & Small Business Banking | None | Saul Van Beurden became CEO of Consumer & Small Business Banking in May 2023, previously Head of Technology. | |
Scott E. Powell Executive | SEVP and Chief Operating Officer | None | Scott E. Powell is the COO of WFC. | |
Tracy Kerrins Executive | SEVP and Head of Technology | None | Tracy M. Kerrins is the Head of Technology at WFC. | |
William M. Daley Executive | Vice Chairman of Public Affairs | None | William M. Daley has been with WFC since November 2019, focusing on public affairs. | |
CeCelia G. Morken Board | Director | Board Member at Alteryx, Inc., Genpact Ltd | CeCelia G. Morken has been a director at WFC since April 2022, with roles in audit and compensation committees. | |
Maria R. Morris Board | Director | Director at S&P Global Inc., The Allstate Corporation | Maria R. Morris has been a director at WFC since January 2018, with experience in strategic planning and risk management. | |
Ronald L. Sargent Board | Director | Board Member at Five Below, Inc., Lead Director at The Kroger Co. | Ronald L. Sargent has been a director at WFC since February 2017, with a background in retail leadership and governance. | |
Suzanne M. Vautrinot Board | Director | President of Kilovolt Consulting, Inc., Board Member at CSX Corporation, Ecolab Inc., Parsons Corporation | Suzanne M. Vautrinot has been a director at WFC since February 2015, with a focus on cybersecurity and risk management. | |
Theodore F. Craver Jr. Board | Director | Independent Lead Director at Duke Energy Corporation | Theodore F. Craver Jr. has been a director at WFC since January 2018, with extensive experience in risk management and corporate governance. | |
Wayne M. Hewett Board | Director | Senior Advisor at Permira, Board Chair at Cambrex Corporation, Quotient Sciences | Wayne M. Hewett has been a director at WFC since January 2019, with expertise in risk management and strategic operations. |
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Given that the asset cap has constrained your ability to grow in areas like wholesale deposits and market financing, how will its removal specifically impact your growth strategy, and what steps are you taking now to prepare for this transition?
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With the recent OCC consent order related to anti-money laundering and KYC compliance disclosed in your 10-Q, how do you plan to address these issues without significantly increasing expenses, and what measures are you implementing to prevent future compliance lapses?
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Your trading gains have exceeded $1 billion per quarter, but given the inherent volatility in market conditions, what strategies are you employing to ensure the sustainability of these revenues, and what key risks could impact future performance in this area?
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The securities repositioning had minimal impact on net interest income in the third quarter but is expected to contribute more in the fourth quarter; can you quantify the anticipated benefit to net interest income from this action, and how does this align with your broader interest rate risk management strategy?
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You've repurchased $15.5 billion in shares year-to-date and remain well above regulatory capital minimums; how are you balancing capital returns with potential economic uncertainties, and should we expect the current pace of buybacks to continue in the coming quarters?
Recent press releases and 8-K filings for WFC.
- Board approved a quarterly dividend of $0.45 per share, payable Sept. 1, 2025, to shareholders of record on Aug. 8, 2025.
- This represents a $0.05 per share (12.5%) increase from the prior quarter.
- Wells Fargo holds approximately $2.0 trillion in assets and operates across four reportable segments.
- On July 29, 2025, Wells Fargo & Company issued $1.5 billion in Medium-Term Notes, Series W, senior redeemable fixed-to-floating rate notes due April 23, 2031.
- Notes initially carry a fixed rate until April 23, 2031, thereafter resetting to a floating rate based on Compounded SOFR.
- Redemption provisions include a par call on April 23, 2030 and a make-whole option at a 0.20% spread over the Treasury Rate.
- Faegre Drinker Biddle & Reath LLP provided a legal opinion confirming that, upon execution and delivery, the notes are valid and enforceable obligations of the company.
- US stocks hit record highs as over 20% of S&P 500 firms begin reporting earnings this week.
- Wells Fargo predicts a double-digit rise in the S&P 500 during H2 2025, led by Big Tech strength.
- Strategists expect markets to keep rallying despite tariff uncertainty under President Trump.
- Key catalysts include earnings from Coca-Cola and General Motors and Fed Chair Jerome Powell’s upcoming remarks.
- Year-to-date in 2025, Overland Advantage financed nine new transactions, arranging $2.0 billion in capital for middle market companies.
- Since beginning investments in Q2 2024, Overland and Wells Fargo have completed 16 transactions totaling $4.8 billion, with Overland independently structuring and leading approximately 95% of its credit facilities.
- The platform leverages a strategic relationship between Centerbridge Partners and Wells Fargo to deliver flexible, cost-effective financing alongside treasury and banking products.
- Wells Fargo’s Commercial Banking healthcare team grew by over 30% in 2025 to support middle market Healthcare Services, MedTech, and BioPharma clients across key U.S. regions including Chicago, Florida, and Southern California.
- The hires coincide with Wells Fargo lifting its $1.95 trillion asset cap and targeting growth in middle market and commercial banking segments.
- The expansion features strategic roles such as a new Equipment Finance lead for healthcare equipment lending, underscoring a focus on specialized financing solutions.
- Wells Fargo plans further healthcare banking hires in H2 2025 while pursuing a multiyear efficiency rebuild to drive the efficiency ratio below 60%.
- Raymond James cut Wells Fargo from Strong Buy to Market Perform after its shares rallied sharply post-Fed asset cap lift.
- Wells Fargo’s stock is up 19% year-to-date and 43% over the last 12 months, including a 10.5% gain since the cap was lifted on June 3.
- The analyst set a $84 price target, noting shares hovered near their recent high of $83.60 and dipped about 0.8–0.9% in premarket trading.
- Market focus is shifting from mega-cap banks to regionals; Raymond James upgraded US Bancorp to Strong Buy with a $57 target.
- Fed signals intent to spur bank lending following stress test results, reflecting an accommodative stance and encouragement of capital returns.
- Average bank share count fell 3% from end-2023 through Q1 2025, with Wells Fargo’s count down 9% under its asset cap, suggesting renewed buybacks now that the cap is lifted.
- Bank loan demand remains tepid at 1.3–1.4% year-to-date, though buybacks and lower deposit costs could support earnings and credit outlook in H2 2025.
- Bank liquidity exceeds pre–Silicon Valley Bank levels, with relief on Liquidity Coverage Ratio and Supplementary Leverage Ratio requirements expected to bolster balance sheets.
- Asset cap exit: The CFO confirmed that Wells Fargo exited a seven‐year asset cap last week, marking a significant operational milestone.
- Growth opportunities: The company highlighted expansion in wealth management, commercial banking, corporate investment banking, and nondepository lending, while noting that the mortgage business remains a non-growth focus.
- Efficiency initiatives: Wells Fargo is advancing cost-saving projects, including leveraging AI to boost efficiency and support a long-term ROTCE and expense ratio improvement target.
- Capital strategy: With a current CET1 ratio of 11.1%, well above the regulatory minimum of 9.8%, the bank emphasized flexibility for deploying excess capital to fuel future growth.
- Federal Reserve officials warned that tariffs imposed under President Trump’s administration are expected to boost inflation through 2025 via higher short-term expectations, opportunistic pricing, and reduced productivity.
- An Atlanta Fed survey shows businesses plan to pass on roughly half of tariff cost increases, with a passthrough rate of 51.1% for a 10% cost rise and 47.3% for a 25% cost rise, potentially lifting retail prices by up to 1.6%.
- Traders are pricing in a 97.4% probability that the Fed will keep the federal funds rate at 4.25–4.50% at its June 17–18 meeting.
- Despite tariff-driven inflation risks, Fed officials signal support for holding interest rates steady amid economic uncertainty.
- Michelle Bowman was confirmed as the Federal Reserve’s vice chair for supervision by a narrow 48-46 Senate vote.
- Bowman, a Fed governor since 2018 and former community banker, will succeed Michael Barr as the Fed’s top banking regulator.
- She plans to advance a lighter, more tailored oversight framework focused on transparency and cost-benefit analysis in regulation.
- Bowman is set to influence the finalization of the 2023 Basel III endgame capital proposal and broader banking deregulation efforts.