Wells Fargo & Co. (NYSE: WFC), which owns Wachovia Bank, said that it plans to create 50 new jobs in the state of Alabama more than it had anticipated earlier in the year for a total of 250 new positions.
San Francisco-based Wells Fargo has more than 2,000 workers in the city of Birmingham and 3,000 workers state wide. Chief Executive John Stumpf said that he had visited with some of Wells Fargo & Co. (NYSE: WFC)’s Alabama customers on Tuesday and said that there’s plenty of business in the state for the bank, which is why it will need more than the original 200 new jobs that the bank thought was necessary when it first announced its hiring plans in June. He also said that Wells Fargo & Co. (NYSE: WFC) has made $800 million in new loans in Alabama in 2010.
Wells Fargo & Company is a diversified financial services company. The Company provides retail, commercial and corporate banking services through banking stores located in 39 states and the District of Columbia. It provides other financial services, through subsidiaries engaged in various businesses, principally 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. The Company operates in three segments: Community Banking, Wholesale Banking, and Wealth, Brokerage and Retirement. As of December 31, 2009, the Company provided banking, insurance, investments, mortgage and consumer finance from more than 10,000 stores under various types of ownership and leasehold agreements.
Shares of Wells Fargo & Co. (NYSE: WFC) traded down 0.47% on Friday ending at $27.75.
