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The firm's primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota for legal purposes. Wells Fargo in its present form is a result of an acquisition of California-based Wells Fargo & Company. by Minneapolis-based Norwest Corporation in 1998. Although Norwest was technically the surviving entity, the new company renamed itself Wells Fargo, capitalizing on the 150-year history of the nationally-recognized name and its trademark stagecoach. Following the acquisition, the company transferred its headquarters to Wells Fargo's headquarters in San Francisco and merged its operating subsidiary with Wells Fargo's operating subsidiary in Sioux Falls. In 2009 Wells Fargo had 6,650 retail branches (called stores by Wells Fargo), 12,260 automated teller machines, 276,000 employees and over 48 million customers. Wells Fargo operates stores and ATMs under the Wells Fargo and Wachovia names. As of March 20, 2010 Wachovia Dealer Services became Wells Fargo Dealer Services. Wells Fargo is one of the Big Four banks of the United States with Bank of America, Citigroup and JP Morgan Chase. |
