Cross-selling[ edit ] A key part of Wells Fargo's business strategy is cross-sellingthe practice of encouraging existing customers to buy additional banking products. Thus, the first charter passed from First National Bank of Philadelphia to Wells Fargo through its acquisition of Wachovia, which had inherited it through one of its many acquisitions. Displays include original stagecoachesphotographs, gold nuggets and mining artifacts, the Pony Express, telegraph equipment and historic bank artifacts.
Writing a Business Plan Writing a business plan: Your step-by-step guide Learn how to write a sound business plan that will move your business forward. Published: March 14, Information and views provided through the Wells Fargo Works for Small Business website are general in nature for your consideration and are not legal, tax, or. Wells Fargo: Provider of banking, mortgage, investing, credit card, and personal, small business, and commercial financial services. Learn more. Information and views provided through the Wells Fargo Works for Small Business website are general in nature for your consideration and are not legal, tax, or investment advice.
The number of banking and express offices grew from in to 3, at the turn of the century. During this period, Wells Fargo also established the first Transcontinental Express line, using more than a dozen railroads.
The company first gained access to the lucrative East Coast markets beginning in ; successfully promoted the use of refrigerated freight cars in California; had opened branch banks in Virginia CityCarson City, and Salt Lake City, Utah by ; and opened a branch bank in New York City by In Wells Fargo also began selling money orders.
In John J. In the locations were separated, with the banking department moving to a building at the northeast corner of California and Sansome Streets.
The bank moved in to the corner of Sansome and Market Streets, where it remained until Harriman reached an agreement with Isaias W. Hellman, president; Wells fargo small business plan W. Bigelow, vice presidents; Frederick L. Lipman, cashier; Frank B. Miles, assistant cashiers; E.
HarrimanWilliam F. Herrin and Dudley Evans, directors. ByLevi Strauss had also joined the board. Caldwell was elected president in October This wartime measure resulted in the formation of American Railway Express later Railway Express Agencywhich began operations July 1,with Caldwell as chairman of the board and George C.
Taylor of American Express as president. The two years following the merger tested the capacities of Hellman and the newly reorganized banks. The San Francisco earthquake and fire destroyed most of the city's business district, including the Wells Fargo Nevada National Bank building.
However, the bank's vaults and credit were left intact and the bank committed its resources to restoring San Francisco.
Money flowed into San Francisco from around the country to support rapid reconstruction of the city. The Panic ofwhich began in New York in October, followed on the heels of this frenetic reconstruction period.
Several New York banks, deeply involved in efforts to manipulate the stock marketexperienced a run when speculators were unable to pay for stock they had purchased. The run quickly spread to other New York banks, which were forced to suspend payment, and then to Chicago and the rest of the country.
The years following the panic were committed to a slow and painstaking recovery.
Hellman died on April 9,and was succeeded as president by his son, Isaias, Jr. Lipman was then elected president. Following the collapse of the banking system inthe company was able to extend immediate and substantial help to its troubled correspondents.
Hellman III was elected president in In the name of the bank was shortened to Wells Fargo Bank, to capitalize on frontier imagery and in preparation for further expansion. Cook was president with Hellman as chairman. The name was again shortened to Wells Fargo Bank in Stephen Chase was elected president with Cook as chairman.
This merger of California's two oldest banks created the 11th largest banking institution in the United States. Cooley president and CEO. At 42, Cooley was one of the youngest men to head a major bank.
Stephen Chase became chairman. Joining Wells Fargo inhe rose to be a branch manager ina senior vice-president inan executive vice-president inand in Aprila director of the company.
Initially, 30, merchants participated in the plan.Apply for a Wells Fargo unsecured business loan (which includes Wells Fargo BusinessLoan Term loan or FastFlex Small Business Loan) account between 07/01/ to 09/30/, and upon approval, . Writing a Business Plan Writing a business plan: Your step-by-step guide Learn how to write a sound business plan that will move your business forward.
Published: March 14, Information and views provided through the Wells Fargo Works for Small Business website are general in nature for your consideration and are not legal, tax, or. Information and views provided through the Wells Fargo Works for Small Business website are general in nature for your consideration and are not legal, tax, or investment advice.
For a general overview of the activities of the current company see the main entry under Wells Fargo.. This article outlines the history of Wells Fargo & Company from its origins to its merger with Norwest Corporation and beyond.
The new company chose to retain the name of "Wells Fargo" and so this article also includes the history after the merger. The Wells Fargo Works website is our online resource center dedicated to the small business owner.
By delivering a wide range of products, resources, and guidance, we help small businesses take steps . Revise your business plan as circumstances change to keep it updated, and modify it for different readers, such as employees and lenders.
Visit the Wells Fargo Works for Small Business ® Business Plan Center to access a step-by-step tool to create your own business plan.