Business Biography Questions:
When was the organization founded?
- It was founded in 1852 in New York, NY.
Who is its current leadership?
- The current President and CEO is Charles William Scharf, and chairman of the board is
Steven D. Black.
What is their mission?
- “We want to satisfy our customers' financial needs and help them succeed financially”
How many employees do they have?
- They currently have 238, 698 employees, including corporate workers.
What is the organization's turnover rate?
- For the 12 months ending in September 2023, the turnover rate was $108.67B, which is a
34.65% increase year-over-year.
What is this organization best known for?
- It is the leading financial services company. It is the leading middle-market banking provider.
It is among the top 5 banks in America, and makes the bulk of its money by lending out at a
higher rate than it borrows.
What are the criticisms of the organization?
- There have been cases and claims of fraudulent activity in Wells Fargo’s sales department.
This first started in 2013, which turned into a huge scandal. Even though Wells Fargo has
gotten past that, their customers still have that line of events in the back of their heads.