Who Owns Wells Fargo Private Bank?

Who owns Wells Fargo?
Wells Fargo & Company is a publicly traded corporation listed on the New York Stock Exchange under the ticker WFC. No single shareholder holds a controlling stake. Ownership is distributed among institutional investors, mutual funds, and individual shareholders. Berkshire Hathaway, once the largest shareholder, has significantly reduced its position in recent years.

What is Wells Fargo's annual revenue?
Wells Fargo reported total revenue of $83.7 billion for fiscal year 2025, up 2% from $82.3 billion in 2024. Net income for FY2025 was $21.3 billion, or $6.26 per diluted share. The company's primary revenue driver is net interest income, which totaled $47.5 billion in FY2025, supplemented by $36.2 billion in noninterest income from fees, advisory services, and other sources.

Is the Wells Fargo asset cap still in place?
No. The Federal Reserve removed the asset growth restriction on June 3, 2025, after determining that Wells Fargo had met all required conditions under the 2018 enforcement action. On March 5, 2026, the Fed terminated the enforcement action entirely. The asset cap had limited Wells Fargo's total assets to approximately $1.95 trillion for seven years.

Who is the CEO of Wells Fargo?
Charlie Scharf has served as Chief Executive Officer since October 2019. Prior to joining Wells Fargo, Scharf was CEO of Visa and Bank of New York Mellon. Under his leadership, Wells Fargo has focused on improving risk management, terminating multiple consent orders, reducing costs, and investing in digital capabilities. Mike Santomassimo serves as Chief Financial Officer.

How many employees does Wells Fargo have?
Wells Fargo employed approximately 205,000 people as of December 31, 2025, with approximately 76% based in the United States. The company's workforce has declined from approximately 268,000 in 2020, reflecting efficiency initiatives and severance programs under CEO Charlie Scharf. The global workforce was 50% female and 50% male as of the end of 2025.

What are Wells Fargo's main business segments?
Wells Fargo operates through four reportable segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Consumer Banking and Lending is the largest segment by revenue, providing checking and savings accounts, credit cards, personal loans, mortgages, and auto loans to individual consumers.

Is Wells Fargo a systemically important financial institution?
Yes. Wells Fargo is classified as a systemically important financial institution by U.S. regulators and is one of the "Big Four" U.S. banks alongside JPMorgan Chase, Bank of America, and Citigroup. This designation subjects the company to enhanced regulatory oversight, including higher capital requirements and stress testing requirements.

What was the Wells Fargo fake accounts scandal?
In September 2016, Wells Fargo was fined $185 million by the CFPB, OCC, and the City and County of Los Angeles for creating approximately 2 million unauthorized bank and credit card accounts in customers' names. The scandal led to the resignation of CEO John Stumpf, a $3 billion DOJ/SEC settlement in 2020, and a Federal Reserve asset cap in 2018 that lasted until June 2025.