Is Wells Fargo & Co (NYSE:WFC) Short Of Talent?

Posted by sara Frank October 1, 2013 0 Comment 992 views

Wells Fargo & Co (NYSE:WFC)’s retail brokerage arm has hired a broker team from Morgan Stanley. This team manages over $1B in client-assets. The Alpert Group joined Wells Fargo & Co (NYSE:WFC) Advisors’ Woodbury, N.Y., branch, last week. The team includes Charles Ladenheim, Michael Montuori Robert Alpert and Robert Fusaro.  They had managed over $1 billion in client-assets previously and their annual-production in commission and fees was approximately $5.8 million.

Monday’s trading

In Monday’s trading session, Wells Fargo & Co (NYSE:WFC) dropped by 0.65%. The company’s shares opened at a price of $41.06, climbed to an intraday high of $41.54 and dropped to a close of $41.32. Approximately 20.36 million shares were traded on Monday while an average volume of 16.77 million shares were traded over 30 days. The 52-week low of the shares is $31.25 while the 52-week high is $44.78. The company has a market capitalization of $219.86 billion.

The company

Wells Fargo & Co (NYSE:WFC) is a bank holding company. It is a diversified financial-services company. It has 3 business segments: 1) Community Banking 2) Wholesale Banking and Wealth and 3) Brokerage and Retirement. It provides retail, corporate and commercial banking services via banking-stores and offices, the Web and other distribution-channels to individuals, institutions and businesses across 50 states and the District of Columbia as well as in other countries.

Wells Fargo & Co (NYSE:WFC) provides its other financial services via subsidiaries that are involved in businesses such as wholesale banking, mortgage-banking, consumer-finance, equipment-leasing, agricultural finance, commercial-finance, securities-brokerage and investment-banking, insurance agency and brokerage-services, computer and data-processing services, trust-services, investment-advisory services, mortgage backed securities-servicing and venture-capital investment. On 1 February 2012, it acquired Burdale Financial Holdings and the Burdale Capital Finance Inc. portfolio from the Bank of Ireland. In 2012 April 2012, it bought BNP Paribas’ North American reserved-based and related-diversified energy lending business.

About sara Frank

Sara Frank is our chief congressional correspondent, Sara has covered the presidential campaign, Congress and congressional campaigns. Prior to that, she covered the U.S. House. Sarahas also worked covering the House, Senate and campaign finance. Among the numerous honors she has received for his reporting, Sara is the recipient of an Emmy Award from The National Academy of Television Arts and Sciences. She was also nominated four times for a national Cable Ace Award.

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