Wells Fargo Competitor Profile
Industry Research and Competitor Profile
Name:
Internship Company:
Purpose: The purpose of this assignment is to familiarize you with research on the larger industry as a whole as well as a specific competitor within the industry. Competitor awareness will allow you to further your knowledge of the industry and make you a more competitive job candidate.
Briefly describe your industry:
Wells Fargo is a financial services company. They have three main operations that include: community banking, wholesale banking, and wealth and investment management. The Company provides retail, commercial and corporate banking services through banking locations and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries.
Top 3 leaders in the industry (Nation Wide):
1. Chase
2. Bank of America
3. Wells Fargo
Number of people employed by the industry: 273,000 (as of 1st Quarter 2017)
Annual industry revenue: $2.0 Trillion
Describe the top challenges faced by this industry and how is the organization you are working for addressing those challenges:
…show more content…
A few months ago, Wells Fargo was caught for employees opening up fraudulent accounts to meet a sales quota. Wells Fargo is address these challenges by eliminating their old product goals and focusing on the customers only. They also are rebuilding their brand by making employment changes across all sectors. Aside from this issue, Wells Fargo also faces the challenge of being beat out by the top competitors. They are addressing the challenge by building stronger relationships with customers so that they can earn their trust and
Wells Fargo Research Paper
754 Words | 4 PagesThe bank has over 70 million customers and 263,000 team members. It has over 9,000 stores and offices in every state and serves more communities than any other bank in the United States. It is the largest residential mortgage originator and servicer, funding nearly one in four domestic mortgages in the second quarter in 2017. Wells Fargo has contributed more than 286.5 million to over 14,500 nonprofits last year. It is the largest employer that gives to the United Way.
H-E-B Background
552 Words | 3 PagesWithin this moment H-E-B has around 85,000 Employees and an estimated amount of 2.2 billion in annual
What Is The Name Of Initial Board Of Director Of Henry Wells Fargo
337 Words | 2 PagesHenry Wells and the Fargo was the founder of the Wells, Fargo Company. Henry Wells was the founder of the Wells and Company and Fargo was a partner in Livingston, Fargo and Company. Due to increase in the competition environment they both felt to join the American Express Company that was a major competitor. After the separation of the directors and others issues to American express, they decided to establish their own Company. On the march 18, 1852 they form Wells, Fargo & Co.
Fractional Reserve Banking System
1113 Words | 5 PagesWhat are the three activities the Fed undertakes when it acts as a bank for banks? Hint: What are the activities the Fed does for banks that are similar to the activities a bank does for its customers? (3 points) The three activities of the Fed are, holding deposits for the bank, lending money to the bank, clearing checks between banks.
During The Great Recession Wells Fargo
128 Words | 1 Pages1) -During the Great Recession Wells Fargo targeted black people and convinced them to take out subprime loans. Such actions lead to the result of Wells Fargo being sued in 2010 for discrimination and a year later settling the suit paying more than 174 million. -The early economy was built on slave labor. Not only did slaves build the Capitol building, but they built the White House too.
TD Bank, America's Most Convenient Bank
340 Words | 2 PagesWhat is the name of your organization? Name of my organization is TD Bank, America 's Most Convenient Bank. TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., with over 25,000 Employees and deep roots in the community dating back more than 150 years. What are your organization’s primary products and/or services?
Wells Fargo A Bank In The 1850's
989 Words | 4 PagesWells Fargo might be thought of as a bank today, but in the 1850’s, it’s primary service was mail delivery (Maxfield). The company Wells, Fargo & Co. is known for its banking and mail delivery services in the Old West, and today, is an extremely successful bank. Wells, Fargo, & Co. had paths on which they would go on to deliver mail from one place to another across America. In 1858, Wells Fargo’s stagecoaches delivered mail from texas to california (Wells Fargo 5). Wells Fargo was a bank who buys gold dust, sells paper bank drafts, and provides loans (History).
Ten Most Profitable Companies: Wells Fargo
295 Words | 2 PagesWells Fargo was found in 1852, Wells Fargo is a diversified, community-based financial services company that provides banking, insurance, investments, mortgage, and consumer and commercial financial services (Wells Fargo Today, 2017). Wells Fargo icon displayed a horse carriage with the logo “Together we’ll
Stumpf's Code Of Ethics: The Case Of Wells Fargo Controversy
968 Words | 4 PagesAlthough some of Wells Fargo’s actions were unethical, this did not seem to cause an extreme dip in the profits and in fact allowed the stock of Wells Fargo to remain relatively constant throughout the whole controversy (Cowley, 2017, p.1). In Wells Fargo’s Code of Ethics, there is the discussion of how Wells Fargo does have a strong focus on employee commitment and employees doing the right thing at all times, even if they are not able to makes sales goals. In Wells Fargo Code of Ethics and Business Conduct it states: “Conducting all aspects of Wells Fargo’s business and community involvement in an honest, ethical, and legal manner and in accordance with federal laws, rules, and regulations and the applicable laws, rules, and regulations of all localities, states and countries where Wells Fargo does business” (Wells Fargo & Company, 2017, p.1). Employee commitment and investor loyalty is noted and accounted as something quite important to Wells Fargo in the Code of Ethics and Business (p.6). In a statement about Wells Fargo’s commitment to being ethic and doing what their employees, investors, and customers would like, Wells Fargo discusses how they are committed to being better by taking action, compensating affected
Wells Forgo's Wells Fargo
193 Words | 1 PagesBy 1918 Wells Fargo was among the 10000 communities. That year the express network taken over by the Federal government as part of First World War and Wells Fargo left with one bank in San Francisco. Wells Forgo earned reputation from the events and tremendous growth of 20th century. In depression and war, even greater post war prosperity, social changes and faster communications technologies, Wells Fargo’s focus was only the customers’ business and it has seen it through great events and brought prosperity.
Ethical Practices In Wells Fargo
575 Words | 3 PagesWells Fargo Unethical News Wells Fargo was founded in 1852 and are widely known and is one of the banks with the most branches nationwide I think it would be safe to assume that they should be one of the most trusted as well, but unfortunately that is not the case after the huge scandal they have recently faced. In recent news Wells Fargo is facing a huge scandal after confirmation of unethical practices since 2011Wells Fargo employees have secretly opened millions of unauthorized bank and credit card accounts without customers knowing it these unauthorized accounts were made in order to hit sales targets and receive bonuses says Richard Cordray, director of the CFPB. (Egan).
Kansas Bank Mission Statement
698 Words | 3 PagesFederal Reserve Bank of Kansas City Mission Statement Analysis While I have been employed at the Federal Reserve Bank of Kansas City (the Bank) for six months I have had the privilege of learning more about our country’s monetary policies and the role that the entire Federal Reserve Bank System plays in providing supervision and regulation oversight. The Federal Reserve was established in 1913 as part of the Federal Reserve Act. The purpose of the Federal Reserve and the continuing function of the Federal Reserve are to provide the nation with safe and stable monetary policies. The Bank has defined our overall identity into three main areas; our mission, our vision, and our values.
Company Overview Of Wells Fargo
1111 Words | 5 PagesBACKGROUND: The name Wells Fargo is forever linked with the image of a six-horse stagecoach thundering across the American West, loaded with gold. The full history, over more than 160 years, is rich in detail with great events in America’s history. From the Gold Rush to the early 20th Century, through prosperity, depression and war, Wells Fargo earned a reputation of trust due to its attention and loyalty to customers. Wells Fargo delivered business by the fastest means possible whether it was by stagecoach, steamship, railroad, pony rides or telegraph.
Phillips Competitors
518 Words | 3 Pages1. Describe the brand, image, and key points of differentiation. Phillip Phillips is an American singer and songwriter. He won the 11th season of American Idol in 2012. His first album was The World from the Side of the Moon and it was released in 2012.
Case Study: Huma Human Intelligence Technology
1817 Words | 8 PagesIntroduction As a complementary step with my academic career at Notre Dame University, I decided to seek an internship which would give me access on real life situations in the field of business. I chose to do that at Human Intelligence Technology located in Jdeideh, Lebanon (currently relocated to Rabweh, Lebanon). Although I’m a management student, I chose the marketing department since there was more to learn in that specific department ranging from competitive analysis to salesmanship and pricing strategies. The duties I was accessed to include the following: • Collecting information about competitors such as prices, products and other attributes.
More about Wells Fargo Competitor Profile
Wells Fargo Research Paper
754 Words | 4 PagesH-E-B Background
552 Words | 3 PagesWhat Is The Name Of Initial Board Of Director Of Henry Wells Fargo
337 Words | 2 PagesFractional Reserve Banking System
1113 Words | 5 PagesDuring The Great Recession Wells Fargo
128 Words | 1 PagesTD Bank, America's Most Convenient Bank
340 Words | 2 PagesWells Fargo A Bank In The 1850's
989 Words | 4 PagesTen Most Profitable Companies: Wells Fargo
295 Words | 2 PagesStumpf's Code Of Ethics: The Case Of Wells Fargo Controversy
968 Words | 4 PagesWells Forgo's Wells Fargo
193 Words | 1 PagesEthical Practices In Wells Fargo
575 Words | 3 PagesKansas Bank Mission Statement
698 Words | 3 PagesCompany Overview Of Wells Fargo
1111 Words | 5 PagesPhillips Competitors
518 Words | 3 PagesCase Study: Huma Human Intelligence Technology
1817 Words | 8 Pages