WELLS FARGO
Transcript: “2nd Top Company For Lesbians, Gay, Bisexual, and Transgender Employees” – DiveristyInc. Magazine. “6th Best Company for Executive Women” – DiveristyInc. Magazine. “Top 4 best companies for Diversity” - Black Enterprise magazine. “Worlds 45 top admired Companies” – Fortune “Best Company for Diversity” – Hispanic business. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial financial services through more than 8,700 locations, 12,800 ATMs, online (wellsfargo.com), and mobile devices. They have their headquartered in San Francisco, but they decentralized so every local Wells Fargo store is a headquarters for satisfying their customers. Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified financial services company with $1.7 trillion in assets. In 2014, Wells Fargo was named “Most Respected Bank” by Barron’s magazine, “Most Admired” among the world’s largest banks by Fortune magazine, and “Best U.S. Bank” by The Banker magazine. Wells Fargo and it’s people Culture of caring for communities Cross selling “the process of offering customers the products and services they need, when they need them, to help them succeed financially.” It’s cheaper than new customer acquisition: It costs a bank much more to acquire customers than to sell to an existing customer. It improves customer retention: Cross-selling means a customer gets a number of services from you. This leads to a longer and deeper customer relationship. It increases revenue per customer: More cross-selling means more revenue from the same customer Customer services vision For a bank to be successful it must: Increase its customer base Increase revenue from each customer Increase both Stable and Boring Traditional bank Cross Selling Wells Fargo Strategy: “Having more engaged and loyal customers” A Banks DNA A Service Company First MAN4162 Carmen Rodriguez Catalina Ricardo Peña About the Company Employees Implement Strategies, and take organizations to its goals. “People are our competitive Advantage” Employee benefits 401k, Roth IRA, Stock Purchase plan, Profit Sharing HMO, PPO, Life Insurance, Dental Tuition Reimbursement, Scholarships The customers reviews change over the years Our customers don’t do business with us just so they can be another account number. They want us to know them, respect them, appreciate them, and reward them for doing business with us. The winners in financial services will be companies that know the most about their customer, obtain that information efficiently and securely, treat it respectfully, and use it wisely” John Stumpf Wells Fargo CEO “We want to satisfy all our customers’ financial needs and help them succeed financially.” Diversity At Wells Fargo, we embrace our responsibility economically, and environmentally — and the opportunity to create more resilient, sustainable communities through our operations and actions. We look for diverse perspectives to inform our business strategy, strive to strengthen financial and communities, and are proactive in caring for and improving the environment. Philanthropy Donated $281.2 million to be a leading corporate citizen — socially, 17,100 nonprofits in 2014 $1.1 billion in grants to nonprofits over the last four years (2011-2014) to support and revitalize communities, help charitable organizations, and grow local economies. $7 billion in community development loans and investments in low- and moderate-income areas (2014).
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