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Company Overview
Business Description
Sector
Financials
Industry
Banking
Headquarters
United States of AmericaUS
Employees
200 999
IPO date
Dec 10, 1962
Wells Fargo is one of the largest U.S. banks. It takes deposits, makes loans, and provides everyday financial services to people, small businesses, and large companies. Its main products include checking and savings accounts, mortgages, auto loans, credit cards, business lending, treasury services, and wealth management.
The company earns money mostly from interest on loans and securities, plus fees for services such as card processing, account services, investment management, and mortgage-related work. Its customers use Wells Fargo as a full-service bank for banking, borrowing, payments, and investing, while businesses rely on it for cash management, financing, and commercial banking needs.
What makes Wells Fargo’s business model different is its role as a broad relationship bank rather than a single-product lender. It sits at the center of the financial system by gathering customer deposits, turning those deposits into loans, and charging fees for handling money movement and financial administration. That mix gives it a large, sticky customer base and ties its earnings to both lending activity and day-to-day banking relationships.
This part serves everyday customers with checking and savings accounts, credit cards, auto loans, personal loans, home mortgages, and home equity lending.
Customers
Individual consumers and households who use Wells Fargo for day-to-day banking and borrowing.
Revenue Model
It earns money from interest on loans, account and card fees, and service charges.
Commercial banking
This part provides banking services to small and mid-sized businesses, including business loans, treasury services, deposit accounts, and payment tools.
Customers
Small businesses, middle-market companies, and some commercial property clients.
Revenue Model
It makes money from loan interest, cash management fees, and service charges on business accounts and payment activity.
Corporate and investment banking
This part works with larger companies and institutions on lending, debt and equity financing, capital markets services, and advisory work.
Customers
Large corporations, public institutions, and financial sponsors.
Revenue Model
It earns fees for arranging deals and underwriting, plus interest and service income from lending and trading-related activities.
Wealth and investment management
This part helps clients manage investments, plan for retirement, and handle trust and brokerage needs.
Customers
Affluent individuals, families, and institutional clients such as retirement plans and endowments.
Revenue Model
It makes money from advisory fees, brokerage commissions, and asset-based service fees.
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Management
Mr. Charles W. Scharf
President, CEO & Director
Charles W. Scharf is the Chief Executive Officer and President of Wells Fargo & Co., one of the largest financial services companies in the United States. Scharf assumed this role in October 2019, bringing with him extensive experience in the financial sector.
Before joining Wells Fargo, Scharf served as CEO of Bank of New York Mellon from 2017 to 2019. Prior to that, he was the CEO of Visa Inc. from 2012 to 2016. His leadership roles also include a significant tenure at JPMorgan Chase & Co., where he was the CEO of the Retail Financial Services division and managing director at One Equity Partners, JPMorgan's private investment arm.
Scharf's leadership at Wells Fargo focuses on rebuilding trust, improving the bank's governance processes, and steering it through various regulatory challenges. He is known for his straightforward, disciplined approach to management and his strategic efforts to transform the bank's operations and customer service. Scharf holds a Bachelor of Arts degree from Johns Hopkins University and an MBA from New York University.
Mr. Michael P. Santomassimo
Senior EVP & CFO
Michael P. Santomassimo is the Chief Financial Officer (CFO) of Wells Fargo & Co., a position he has held since 2020. As CFO, he is responsible for overseeing the company's financial management, including finance, treasury, accounting, and investor relations. Santomassimo plays a key role in helping shape the financial strategy of Wells Fargo, working closely with other senior executives to ensure the bank's financial health and compliance with financial regulations.
Before joining Wells Fargo, Santomassimo had a distinguished career in the financial industry. He served as the CFO at Bank of New York Mellon, where he was responsible for the company's financial management and strategic planning. He also held senior roles at JPMorgan Chase, including CFO of the consumer and community banking business.
Santomassimo holds a Bachelor of Science degree in Finance from American University and a Master of Business Administration from New York University. His experience and leadership have been instrumental in navigating Wells Fargo through various financial challenges, driving efficiency, and fostering stability during periods of change. His work is central to helping Wells Fargo achieve its long-term financial goals and maintaining trust with investors and stakeholders.
Mr. Scott E. Powell
Senior EVP & COO
Scott E. Powell is a seasoned financial executive and business leader who served as the Chief Operating Officer (COO) of Wells Fargo & Co. Prior to his role at Wells Fargo, Powell accumulated extensive experience within the banking sector, notably at JPMorgan Chase & Co., where he served as CEO of Chase Consumer Banking. His leadership was instrumental in streamlining operations, enhancing customer service, and improving the regulatory compliance framework within the divisions he managed.
Powell has also held senior positions at Santander Holdings USA, Inc., including President and CEO, where he effectively navigated complex regulatory environments and executed strategic initiatives to drive growth and operational efficiency.
Powell’s leadership at Wells Fargo was pivotal during a time of transformation for the bank, focusing on operational resilience, risk management, and organizational culture. His guidance helped Wells Fargo navigate challenges and align its operations with long-term strategic goals.
An alumnus of the University of Minnesota and The University of Chicago Booth School of Business, Scott E. Powell’s career reflects a commitment to leadership excellence, operational rigor, and a keen focus on enhancing customer experiences within the financial services industry.
Mr. Jonathan Geoffrey Weiss
Senior EVP and Co-CEO of Corporate & Investment Banking
Jonathan Geoffrey Weiss is a notable figure within Wells Fargo & Co., where he has held prominent leadership roles. Serving as an Executive Officer, Weiss played a crucial role in shaping the company's strategic direction, particularly in its Wealth and Investment Management division and Corporate & Investment Banking. He demonstrated strong leadership in managing operations, focusing on delivering integrated and comprehensive financial services to meet the diverse needs of clients.
Weiss' tenure at Wells Fargo was marked by his dedication to enhancing the company's market position and forging strong client relationships. He brought extensive experience and a proven track record in banking and investment management, leveraging his expertise to drive growth and improve operational efficiency.
Prior to joining Wells Fargo, Jonathan Weiss had a distinguished career in the financial services industry, making significant contributions with his strategic insights and executive capabilities. His leadership was characterized by a commitment to innovation, client service excellence, and fostering a culture of integrity and accountability within the organizations he worked with.
Weiss' influence and efforts at Wells Fargo were instrumental in advancing the company's objectives, strengthening its financial services offerings, and navigating the complex landscape of the banking sector.
Mr. Barry Sommers
Senior EVP and CEO of Wealth & Investment Management
Barry Sommers is a prominent figure in the financial industry, currently serving as the CEO of Wealth & Investment Management at Wells Fargo & Co. He joined Wells Fargo in this role in June 2020, bringing with him a wealth of experience in the banking and wealth management sectors.
Before his tenure at Wells Fargo, Sommers held significant positions at JPMorgan Chase & Co. He was the CEO of the Wealth Management division within JPMorgan’s Asset & Wealth Management business. Prior to that, he served as the CEO of J.P. Morgan Securities, a leading provider of wealth management services to individuals and institutions. His career at JPMorgan Chase spanned over several years, during which he gained extensive experience and a solid reputation for leadership in wealth management.
Sommers's expertise in building and enhancing client relationships, coupled with his strategic vision, has been instrumental in driving growth and innovation at Wells Fargo’s Wealth & Investment Management division. Under his leadership, the division has focused on delivering comprehensive financial advice and solutions to clients, leveraging Wells Fargo’s broad capabilities to meet diverse client needs.
Ms. Bridget E. Engle
Senior EVP & Head of Technology
Bridget E. Engle is a noted financial services executive who served as the Chief Information Officer and Head of Technology at Wells Fargo & Co. She joined the company in 2019 and played a critical role in overseeing the bank's technology strategy and operations. With a focus on innovation and efficiency, Engle worked to enhance the organization's digital capabilities and infrastructure.
Before her tenure at Wells Fargo, Engle had a distinguished career in various major financial institutions. She previously held senior technology leadership roles at Bank of New York Mellon, where she was the Senior Executive Vice President and Chief Information Officer. Her career also includes significant roles at Lehman Brothers and AT&T.
With extensive experience in managing complex technology functions across global financial services, Engle is recognized for her leadership in driving technology transformations and strengthening cybersecurity frameworks. Her work has helped Wells Fargo and her previous employers to adapt to evolving technological landscapes and regulatory environments.
Mr. David Owen
Chief Administrative Officer & Head of Global Operations
David Owen is recognized as a prominent executive at Wells Fargo & Co., where he has made significant contributions to the company's operations. He serves as the Chief Administrative Officer (CAO), a role that involves overseeing critical administrative functions, ensuring efficient operations, and supporting strategic initiatives across the organization. With a strong commitment to leadership and operational excellence, Owen has played a pivotal role in driving improvements and fostering innovation at Wells Fargo. His strategic insights and managerial expertise have been instrumental in helping the company navigate the complexities of the banking sector while prioritizing customer satisfaction and organizational growth.
Mr. John M. Campbell
Director of Investor Relations
Mr. John M. Campbell serves as the Chief Financial Officer (CFO) of Consumer and Small Business Banking at Wells Fargo & Co. He has been with Wells Fargo for several years, contributing significantly to the company's financial strategy and operations. In his role as CFO, Campbell is responsible for overseeing financial planning, management, and reporting for consumer and small business banking, which includes retail banking, deposits, and small business operations. His leadership is integral to aligning the financial goals with the overall business strategy of Wells Fargo, ensuring sustainable growth and profitability in these sectors. Throughout his tenure at Wells Fargo, Campbell has been recognized for his keen financial acumen and strategic insight, playing a crucial role in navigating the company through various financial landscapes.
Ms. Ellen Reilly Patterson Esq., J.D.
Senior EVP & General Counsel
Ellen Reilly Patterson is a seasoned attorney and an executive leader known for her significant contributions to the financial services industry. She serves as the Senior Executive Vice President and General Counsel at Wells Fargo & Co. In this pivotal role, she is responsible for overseeing all legal affairs, guiding the company through complex legal and regulatory challenges, and ensuring compliance with the various laws impacting the bank's operations.
Patterson joined Wells Fargo in 2020, bringing with her a wealth of experience from her previous role as Group Head and General Counsel at TD Bank Group. Her tenure at TD Bank was marked by her leadership in handling legal risks and managing a broad array of legal matters, including litigation, corporate governance, regulatory issues, and mergers and acquisitions.
Before her stint at TD Bank, Patterson was a partner at the law firm Simpson Thacher & Bartlett LLP, where she worked extensively on corporate finance, capital markets transactions, and mergers and acquisitions. Her legal expertise and leadership skills have been instrumental in navigating the complexities of financial law and ensuring robust legal strategies for the institutions she has served.
Patterson holds a Juris Doctor (J.D.) degree, which further underlines her expertise in the legal field. Her commitment to maintaining high legal standards and strategic acumen has made her a respected figure in the banking industry.
Ms. Amy Bonitatibus
Chief Communications & Brand Officer
Amy Bonitatibus is a prominent executive known for her expertise in communications and financial services. She currently serves as the Chief Communications and Brand Officer at Wells Fargo & Co. In this role, she is responsible for overseeing the company's brand, media relations, external and internal communications, and social impact initiatives.
Before joining Wells Fargo, Bonitatibus held significant roles in other major financial institutions. She has previously worked at JPMorgan Chase, where she served in various high-level positions, including Chief Communications Officer for Chase's consumer and community banking division. Her experience also includes working in government communications, serving as a spokeswoman at Fannie Mae during the financial crisis.
Amy Bonitatibus is recognized for her strategic approach to corporate communications, brand management, and her ability to lead through challenging times. Her leadership continues to shape the public image and brand reputation of Wells Fargo as it navigates the complex financial landscape.
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Mr. Charles W. Scharf
President, CEO & Director
Charles W. Scharf is the Chief Executive Officer and President of Wells Fargo & Co., one of the largest financial services companies in the United States. Scharf assumed this role in October 2019, bringing with him extensive experience in the financial sector.
Before joining Wells Fargo, Scharf served as CEO of Bank of New York Mellon from 2017 to 2019. Prior to that, he was the CEO of Visa Inc. from 2012 to 2016. His leadership roles also include a significant tenure at JPMorgan Chase & Co., where he was the CEO of the Retail Financial Services division and managing director at One Equity Partners, JPMorgan's private investment arm.
Scharf's leadership at Wells Fargo focuses on rebuilding trust, improving the bank's governance processes, and steering it through various regulatory challenges. He is known for his straightforward, disciplined approach to management and his strategic efforts to transform the bank's operations and customer service. Scharf holds a Bachelor of Arts degree from Johns Hopkins University and an MBA from New York University.
Mr. Michael P. Santomassimo
Senior EVP & CFO
Michael P. Santomassimo is the Chief Financial Officer (CFO) of Wells Fargo & Co., a position he has held since 2020. As CFO, he is responsible for overseeing the company's financial management, including finance, treasury, accounting, and investor relations. Santomassimo plays a key role in helping shape the financial strategy of Wells Fargo, working closely with other senior executives to ensure the bank's financial health and compliance with financial regulations.
Before joining Wells Fargo, Santomassimo had a distinguished career in the financial industry. He served as the CFO at Bank of New York Mellon, where he was responsible for the company's financial management and strategic planning. He also held senior roles at JPMorgan Chase, including CFO of the consumer and community banking business.
Santomassimo holds a Bachelor of Science degree in Finance from American University and a Master of Business Administration from New York University. His experience and leadership have been instrumental in navigating Wells Fargo through various financial challenges, driving efficiency, and fostering stability during periods of change. His work is central to helping Wells Fargo achieve its long-term financial goals and maintaining trust with investors and stakeholders.
Mr. Scott E. Powell
Senior EVP & COO
Scott E. Powell is a seasoned financial executive and business leader who served as the Chief Operating Officer (COO) of Wells Fargo & Co. Prior to his role at Wells Fargo, Powell accumulated extensive experience within the banking sector, notably at JPMorgan Chase & Co., where he served as CEO of Chase Consumer Banking. His leadership was instrumental in streamlining operations, enhancing customer service, and improving the regulatory compliance framework within the divisions he managed.
Powell has also held senior positions at Santander Holdings USA, Inc., including President and CEO, where he effectively navigated complex regulatory environments and executed strategic initiatives to drive growth and operational efficiency.
Powell’s leadership at Wells Fargo was pivotal during a time of transformation for the bank, focusing on operational resilience, risk management, and organizational culture. His guidance helped Wells Fargo navigate challenges and align its operations with long-term strategic goals.
An alumnus of the University of Minnesota and The University of Chicago Booth School of Business, Scott E. Powell’s career reflects a commitment to leadership excellence, operational rigor, and a keen focus on enhancing customer experiences within the financial services industry.
Mr. Jonathan Geoffrey Weiss
Senior EVP and Co-CEO of Corporate & Investment Banking
Jonathan Geoffrey Weiss is a notable figure within Wells Fargo & Co., where he has held prominent leadership roles. Serving as an Executive Officer, Weiss played a crucial role in shaping the company's strategic direction, particularly in its Wealth and Investment Management division and Corporate & Investment Banking. He demonstrated strong leadership in managing operations, focusing on delivering integrated and comprehensive financial services to meet the diverse needs of clients.
Weiss' tenure at Wells Fargo was marked by his dedication to enhancing the company's market position and forging strong client relationships. He brought extensive experience and a proven track record in banking and investment management, leveraging his expertise to drive growth and improve operational efficiency.
Prior to joining Wells Fargo, Jonathan Weiss had a distinguished career in the financial services industry, making significant contributions with his strategic insights and executive capabilities. His leadership was characterized by a commitment to innovation, client service excellence, and fostering a culture of integrity and accountability within the organizations he worked with.
Weiss' influence and efforts at Wells Fargo were instrumental in advancing the company's objectives, strengthening its financial services offerings, and navigating the complex landscape of the banking sector.
Mr. Barry Sommers
Senior EVP and CEO of Wealth & Investment Management
Barry Sommers is a prominent figure in the financial industry, currently serving as the CEO of Wealth & Investment Management at Wells Fargo & Co. He joined Wells Fargo in this role in June 2020, bringing with him a wealth of experience in the banking and wealth management sectors.
Before his tenure at Wells Fargo, Sommers held significant positions at JPMorgan Chase & Co. He was the CEO of the Wealth Management division within JPMorgan’s Asset & Wealth Management business. Prior to that, he served as the CEO of J.P. Morgan Securities, a leading provider of wealth management services to individuals and institutions. His career at JPMorgan Chase spanned over several years, during which he gained extensive experience and a solid reputation for leadership in wealth management.
Sommers's expertise in building and enhancing client relationships, coupled with his strategic vision, has been instrumental in driving growth and innovation at Wells Fargo’s Wealth & Investment Management division. Under his leadership, the division has focused on delivering comprehensive financial advice and solutions to clients, leveraging Wells Fargo’s broad capabilities to meet diverse client needs.
Ms. Bridget E. Engle
Senior EVP & Head of Technology
Bridget E. Engle is a noted financial services executive who served as the Chief Information Officer and Head of Technology at Wells Fargo & Co. She joined the company in 2019 and played a critical role in overseeing the bank's technology strategy and operations. With a focus on innovation and efficiency, Engle worked to enhance the organization's digital capabilities and infrastructure.
Before her tenure at Wells Fargo, Engle had a distinguished career in various major financial institutions. She previously held senior technology leadership roles at Bank of New York Mellon, where she was the Senior Executive Vice President and Chief Information Officer. Her career also includes significant roles at Lehman Brothers and AT&T.
With extensive experience in managing complex technology functions across global financial services, Engle is recognized for her leadership in driving technology transformations and strengthening cybersecurity frameworks. Her work has helped Wells Fargo and her previous employers to adapt to evolving technological landscapes and regulatory environments.
Mr. David Owen
Chief Administrative Officer & Head of Global Operations
David Owen is recognized as a prominent executive at Wells Fargo & Co., where he has made significant contributions to the company's operations. He serves as the Chief Administrative Officer (CAO), a role that involves overseeing critical administrative functions, ensuring efficient operations, and supporting strategic initiatives across the organization. With a strong commitment to leadership and operational excellence, Owen has played a pivotal role in driving improvements and fostering innovation at Wells Fargo. His strategic insights and managerial expertise have been instrumental in helping the company navigate the complexities of the banking sector while prioritizing customer satisfaction and organizational growth.
Mr. John M. Campbell
Director of Investor Relations
Mr. John M. Campbell serves as the Chief Financial Officer (CFO) of Consumer and Small Business Banking at Wells Fargo & Co. He has been with Wells Fargo for several years, contributing significantly to the company's financial strategy and operations. In his role as CFO, Campbell is responsible for overseeing financial planning, management, and reporting for consumer and small business banking, which includes retail banking, deposits, and small business operations. His leadership is integral to aligning the financial goals with the overall business strategy of Wells Fargo, ensuring sustainable growth and profitability in these sectors. Throughout his tenure at Wells Fargo, Campbell has been recognized for his keen financial acumen and strategic insight, playing a crucial role in navigating the company through various financial landscapes.
Ms. Ellen Reilly Patterson Esq., J.D.
Senior EVP & General Counsel
Ellen Reilly Patterson is a seasoned attorney and an executive leader known for her significant contributions to the financial services industry. She serves as the Senior Executive Vice President and General Counsel at Wells Fargo & Co. In this pivotal role, she is responsible for overseeing all legal affairs, guiding the company through complex legal and regulatory challenges, and ensuring compliance with the various laws impacting the bank's operations.
Patterson joined Wells Fargo in 2020, bringing with her a wealth of experience from her previous role as Group Head and General Counsel at TD Bank Group. Her tenure at TD Bank was marked by her leadership in handling legal risks and managing a broad array of legal matters, including litigation, corporate governance, regulatory issues, and mergers and acquisitions.
Before her stint at TD Bank, Patterson was a partner at the law firm Simpson Thacher & Bartlett LLP, where she worked extensively on corporate finance, capital markets transactions, and mergers and acquisitions. Her legal expertise and leadership skills have been instrumental in navigating the complexities of financial law and ensuring robust legal strategies for the institutions she has served.
Patterson holds a Juris Doctor (J.D.) degree, which further underlines her expertise in the legal field. Her commitment to maintaining high legal standards and strategic acumen has made her a respected figure in the banking industry.
Ms. Amy Bonitatibus
Chief Communications & Brand Officer
Amy Bonitatibus is a prominent executive known for her expertise in communications and financial services. She currently serves as the Chief Communications and Brand Officer at Wells Fargo & Co. In this role, she is responsible for overseeing the company's brand, media relations, external and internal communications, and social impact initiatives.
Before joining Wells Fargo, Bonitatibus held significant roles in other major financial institutions. She has previously worked at JPMorgan Chase, where she served in various high-level positions, including Chief Communications Officer for Chase's consumer and community banking division. Her experience also includes working in government communications, serving as a spokeswoman at Fannie Mae during the financial crisis.
Amy Bonitatibus is recognized for her strategic approach to corporate communications, brand management, and her ability to lead through challenging times. Her leadership continues to shape the public image and brand reputation of Wells Fargo as it navigates the complex financial landscape.
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