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  • Previous Rank
    62
  • Revenues ($M)
    $101,060.00
  • Revenue Percent Change
    3.4%
  • Profits ($M)
    $22,393.00
  • Profits Percent Change
    0.9%
  • Assets ($M)
    $1,895,883.00
  • Employees
    258,700

This wagon is stuck. Nearly three years after a fake accounts scandal that cost consumers millions, the banking giant is still in cleanup mode (while its peers, buoyed by a strong economy, have been cleaning up). In 2018 alone, Wells Fargo came to a $1 billion settlement for misconduct in its auto and mortgage lending business. Now, under constant scrutiny from regulators, a bank that has historically promoted from within is seeking new leadership. It won’t be an easy job: ex-CEO Tim Sloan spent much of his two-year tenure on an apologetic redemption tour, and that wasn’t enough to keep his post. With a tightening yield curve that is expected to press on income, and a cap on assets imposed by the Federal Reserve in the wake of its scandals, 2019 will likely continue to be a difficult year for Wells Fargo. One bright spot for investors: Wells has been buying back stock, to the tune of $7 billion in the fourth quarter alone.

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Company Information

CEO
Charles W. Scharf
Sector
Financials
Industry
Banks: Commercial and Savings
HQ Location
San Francisco
Websitehttps://www.wellsfargo.com
Years on Global 500 List22
Employees258,700

Wells Fargo Rank History

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Key Financials (Last Fiscal Year)

($ Millions)% change
Revenues ($M)$101,060.003.4%
Profits ($M)$22,393.000.9%
Assets ($M)$1,895,883.00-
Total Stockholder Equity ($M)$196,166.00-

Profit Ratios

Profit as % of Revenues22.2%
Profits as % of Assets1.2%
Profits as % of Stockholder Equity11.4%