In banking news, WellsFargo says it no longer has anyone from its 'senior leadership team' based in San Francisco. But the bank says its HQ isn't leaving the city it has called home since its founding in 1852.
near Dallas to accommodate up to 4,000 workers. The bank told me this week, “Wells Fargo is not moving its San Francisco headquarters.”
That’s little solace considering the bank’s diminishing presence in San Francisco, especially when it comes to its corporate leadership. The CEO and much of his leadership team is based in New York, while a handful of the senior leadership team members are located in Charlotte, Wells Fargo’s largest employment center.
Wells' employee base in San Francisco County fell almost 20% in one year, dropping to 5,899 in 2021 from 7,021 in 2020, the bank said in January. The bank cited increased efficiencies as one factor in the drop. Despite growing concern that San Francisco could lose the prestige and status that comes with Wells Fargo’s headquarters, the Bay Area continues to be an important market for Wells.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wells Fargo to build regional corporate campus in Irving - San Francisco Business TimesAfter years of speculation and a handful of recent happenings, Texas Gov. Gregg Abbott's office confirmed the plan. Here are the details.
Read more »
Wells Fargo to build new Irving campus with Texas Enterprise FundWells Fargo is building a new $200 million development near the corner of Las Colinas Boulevard and Promenade Parkway.
Read more »
New food options for Flyers and Sixers fans at the Wells Fargo CenterStephen Starr, Marc Vetri, and Jose Garces, three hometown restaurant giants, open food concessions as part of the arena's renovation.
Read more »
Man arrested, accused of robbing Wells Fargo in Casa GrandePolice say a man who robbed a bank was arrested following a foot pursuit in Casa Grande.
Read more »
Real estate investment trusts haven’t worked as a defensive bet this year. Why REITs might continue to underperform, according to Wells FargoInvestors often view real estate investment trusts as a defensive asset in a sinking stock market, but REITS are struggling in 2022 as investors look for...
Read more »
Fed vice chair talks inflation, hotels hit by crime wave and more: Tuesday's 5 things to knowOn Tuesday, traders will be watching as some big names – including Pepsi, Citigroup, Wells Fargo and Delta Airlines – are set to announce 3Q earnings later in the week.
Read more »