Business Analysis: Wells Fargo

Decent Essays
Wells Fargo and Company was destined to become the leading banking company of the West, after being founded by Henry Wells and William Fargo. Wells Fargo was inspired by California’s economy boom that happened after the discovery of gold at Sutter’s Mill in the year 1849. Due to these events, Wells and Fargo along with several New York investors began to create the company we all know now as Wells Fargo that would profit from this demand. Because of California’s camps that were isolated for mining, Wells Fargo had the idea to begin to first transport the loads of freight between the East Coast and these camps in July 1852. With the company’s engagement in banking, they also ensured to make high profits in the traffic of gold dust and stride to provide loans that helped sustain the growth the economy in California.
Starting in the mid 1800’s, the company’s use of transportation was by stagecoaches moving gold dust, papers, and other things that needed to be expressed
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With new ways of business for the company they changed the way people banked. The company soon became more modern adding on amenities like doing banking over the phone and being able to drive up to bank, as well as express lines and credit cards. These add on options were what the company needed to satisfy customer’s needs, with the hopes in showing that they always strive to keep it convenient for the customer. Going from just one bank in San Francisco, by 1923 it managed to serve the entire west, jumping ahead to 1980’s, when Wells Fargo finally became within the top 10 largest banks in the nation, ranking at number 7, it shows the great accomplishments this company has been a part of. Through the 20th and 21st Centuries, Wells Fargo’s attention to customers and their business is what got them through the major events of the world and if brought them

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