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