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21 Cards in this Set
- Front
- Back
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Where is Headquarters?
Where did Stumpf go undergrad and for MBA? |
San Francisco
UG=Cloud State MBA=U Minnesota |
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How can you tie Wells Fargo into 2008 crisis?
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The company remained one of the only AAA rated banks. In the movie Too Big to Fail, the CEO is angry about receiving the TARP money, he claims Wells is not one of the big New York banks with fnancy products
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Year founded
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1852
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Three companies that it has acquired
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Norwest
Wachovia (which inlcuded First Union) |
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Four operations
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Community Retail Bank
Wholesale Commercial Bank Wells Fargo Securities Wealth, Brokerage, Retirement |
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What would be some of the capacities of the Wealth, Brokerage, and Retirement group?
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They offer mutual funds, private wealth management, private banking,
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What are some groups within the Wholesale Commercial Bank?
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commercial banking
commercial real estate corporate banking government banking capital finance credit resolution |
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What are Wells Fargo's corporate values?
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1. People as competitive advantage- "team members," not employees. Develop and retain most talented people.
2. Ethics 3. What's right for our customers-treat customer as a friend 4. Diversity-creates an inclusive atmosphere that is accepting to new ideas 5. Leadership-Great leaders do not wait for answers, they serve the customer on the spot |
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What is the vision of Wells Fargo?
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To satisfy all our customer's financial needs and to help them succeed financially
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What is (broadly) Wells Fargo's strategy?
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To serve all of their customers needs; offering every line of business imaginable and cross-selling these products
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How does Wells Fargo measure its financial success?
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By the financial success of its customers
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What is Wells Fargo's position w/r/t avoiding the stigma of being a large, bulge bracket bank?
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They are a community-based bank seeking to out-local the nationals, and out-national the locals
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What are Wells Fargo's 5 strategic priorities?
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1. Putting customers first
2. Growing revenue, because doing so means that they are earning customer support 3. Reducing expenses, so that additional funds can be used to serve customers 4. Living company vision and corporate values 5. Helping the community and nation grow stronger |
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What does Wells Fargo's Capital Finance division do?
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It provides financing that is secured by a company's balance sheet assets
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Who does the Wells Fargo Government and Institutional Banking group serve?
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Governments, non-profits, healthcare groups, and educational organizations
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How much revenue is required for a company to be targeted by Wells Fargo as a commercial banking client?
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$25-500 million
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What does the Wells Fargo Capital Finance division do?
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Maximizes the recovery of Wells Fargo’s capital through early intervention and restructuring of distressed or special assets
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It’s easy to talk about why you are interested in Wells Fargo (as a company) but really explain why you are interested in this specific program. Wells Fargo has a lot to offer but we are looking for students that have a true interest in this position. Why this position?
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-Flexibility to move around between different lines of business
-Structure and opportunity to do actual work. One employee I spoke with at the Notre Dame information session said that she did substantial and meaningful work during her internship. -Guidance, mentorship, and credit training. There is still a lot that I need to learn, especially as a history major. Wells Fargo is clearly making a concerted effort to teach its employees, and prepare them as much as possible for full-time employment. -Virtual speaker series -Online credit training to prepare me -I am a history major with a desire to enter business. I could take meaningless classes this summer, or I could get hands on PhD experience with Wells Fargo. Really a no brainer. -Potential to work full-time at Wells Fargo really interests me, for similar reasons. I would get to take thru Intermediate Accounting II, and receive 2 weeks credit training. |
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Describe a current financial crisis
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Student loans. Large college-aged population, and increasing push on students to go to college, in addition to high unemployment rates has led to tons of students with lots of debt. Moreover, many undergrads feel compelled to move on to graduate school when they cannot meet their debt payments, compounding the crisis.
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What non-financial considerations would you make when evaluating a lender?
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Personal assets, personal lifestyle, whether they have a quality reputation
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Walk me through how price increase in flour affects bread company's 3 statements
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Ceteris paribus, this would decrease net income because cost of goods sold would be higher. With less net income, the company might find that its cash flow on the statement of cash flows for that period was below what it expected. Cash at the end of the period is then added to cash on the balance sheet. If the company has less cash on its balance sheet than it anticipated, it might struggle to meet its debt services in the next period.
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