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Running Head: FINANCIAL SUMMARY
Wells Fargo and Company
History of the Company
Wells Fargo and Company was founded on March 18, 1852, by Henry Wells and William
G Fargo as a banking and express company. The firm opened its first office in California
providing services to miners and merchants. Wells Fargo's express, banking, and mail services
went with the miners as they moved north and east from California. As a result of the success of
the company in California, it was able to expand to other areas quickly. The company was not
only entrusted with the letters, parcels, freight, and gold by the customers but also the customers'
wives and children. Wells Fargo's offices went "ocean to ocean" in 1888 to New York. Wells
Fargo had a network of approximately 10,000 offices nationwide. During the 20th century,
became the banking institution known today. It has since become the nation's fifth largest bank
after merging with other recognized banks such as Crocker Bank, American Trust Company, and
first interstate. After more than 100 years, the name "Wells Fargo" is a symbol of stability and
Wells Fargo's Audit Firm
The audit firm for Wells Fargo is KPMG. KPMG stands for "Klynveld Peat Marwick
Goerdeler" a name adopted after the merging of KMG and Peat Marwick. KPMG is an
accounting giant and one of the four big auditors. It has been Wells Fargo's audit firm since
1931. This audit firm has three lines of services tax, advisory, and financial audit. Wells Fargo is
listed in the New York Stock Exchange, and the ticker symbol is NYSE.
The market capitalization of Wells Fargo as at July 13, ...