East West Bank, the primary subsidiary of East West Bancorp, Inc., is the largest publicly traded bank headquartered in Southern California, United States. It was founded in 1973 in Los Angeles to serve the Chinese American community in Southern California. It is a premier bank focused exclusively on the United States and Greater China markets and operates over 120 locations in the U.S. and China, including in the markets of California, Georgia, Massachusetts, Nevada, New York, Texas and Washington. In China, East West Bank has full-service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, and Xiamen. In 2023, East West expanded its footprint in Asia with the opening of a representative office in Singapore. Forbes magazine has recognized East West Bank as one of "America's Best Banks" since 2010. In 2018, Forbes ranked East West Bank number five of "America's 100 Biggest Banks."
Richard Marco Kovacevich is an American business executive and the former CEO of Wells Fargo & Company.
CoreStates Financial Corporation, previously known as Philadelphia National Bank (PNB), was an American bank holding company in the Philadelphia, Pennsylvania, metropolitan area.
SouthTrust Corporation was a banking company headquartered in Birmingham, Alabama. In 2004, SouthTrust reached an agreement to merge with Wachovia in a stock-for-stock deal. At the time of the merger with Wachovia was completed, SouthTrust had $53 Billion in assets. SouthTrust was listed on the NASDAQ exchange under the ticker symbol SOTR. The company was headquartered in the SouthTrust Tower, now known as the Shipt Tower. SouthTrust had branches in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia. By the end of 2005, all former SouthTrust branches that remained open carried the Wachovia name.
First Union Corporation was a bank holding company that provided commercial and retail banking services in eleven states in the eastern U.S. First Union also provided various other financial services, including mortgage banking, credit card, investment banking, investment advisory, home equity lending, asset-based lending, leasing, insurance, international and securities brokerage services and private equity through First Union Capital Partners, and through other subsidiaries.
G. Kennedy Thompson, also known as Ken Thompson, is an American banker and businessman who was chairman, president, and CEO of Wachovia Corporation, formerly First Union Corporation, from 2000 through 2008. During his leadership, Wachovia grew to become the nation's fourth largest bank.
A.G. Edwards, Inc. was an American financial services holding company; its principal wholly owned subsidiary was A.G. Edwards & Sons, Inc., which operated as a full-service securities broker-dealer in the United States and Europe. The firm was acquired by Wachovia to be folded into Wachovia Securities; Wachovia was subsequently acquired by Wells Fargo, and the securities division was folded into Wells Fargo Advisors. The firm provided securities and commodities brokerage, investment banking, trust services, asset management, financial and retirement planning, private client services, investment management, and other related financial services to individual, governmental, and institutional clients.
Butterfield, officially The Bank of N. T. Butterfield & Son Limited, is a bank founded and based in Bermuda. It provides services to clients from Bermuda, the Cayman Islands, Guernsey and Jersey, where its principal banking operations are located, and The Bahamas, Switzerland, Singapore and the United Kingdom, where it offers specialized financial services. Banking services comprise deposit, cash management and lending for individual, business and institutional clients. Wealth management services are composed of trust, private banking, asset management and custody. In Bermuda, the Cayman Islands and Guernsey, Butterfield offers both banking and wealth management. In The Bahamas, Singapore and Switzerland, Butterfield offers select wealth management services. In the UK, Butterfield offers residential property lending. In Jersey, it offers banking and wealth management services. Butterfield is publicly traded on the New York Stock Exchange and the Bermuda Stock Exchange.
This article outlines the history of Wells Fargo & Company from its merger with Norwest Corporation and beyond. The new company chose to retain the name of "Wells Fargo" and so this article is about the history after the merger.
John Gerard Stumpf is an American business executive and retail banker. He was the chairman and chief executive officer of Wells Fargo, one of the Big Four banks of the United States. He was named CEO in June 2007, elected to the board of directors in June 2006, and named president in August 2005. He became chairman in January 2010. Stumpf resigned as chairman and CEO of Wells Fargo on October 12, 2016, after a scandal involving customer accounts and subsequent pressure from the public and lawmakers. He was succeeded by Timothy J. Sloan.
Wells Fargo & Company is an American multinational financial services company with a significant global presence. The company operates in 35 countries and serves over 70 million customers worldwide. It is a systemically important financial institution according to the Financial Stability Board, and is considered one of the "Big Four Banks" in the United States, alongside JPMorgan Chase, Bank of America, and Citigroup.
Betsy Duke is an American bank executive who served as a member of the Federal Reserve Board of Governors from 2008 to 2013. Duke was confirmed by the Senate to fill an unexpired term ending January 31, 2012. She was the seventh woman to be appointed to the board. In July 2013, she announced her resignation from the board.
Florida National Bank (FNB), founded in 1905, was the second largest commercial bank in Florida. Florida National Group was acquired in 1990 by First Union Corporation, which was renamed Wachovia in 2001; Wachovia was subsequently acquired by Wells Fargo in 2008.
Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. At its height, it was one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. Wachovia provided global services through more than 40 offices around the world.
Golden West Financial was the second-largest savings and loan association in the United States, operating branches under the name of World Savings Bank.
CertusBank was an American nationally chartered bank, with a presence in twelve U.S. states. The bank was Headquartered in Greenville, South Carolina, with secondary corporate offices in Atlanta, Georgia and Charlotte, North Carolina, at its peak the bank operated more than 30 retail branches in The Carolinas, Florida, and Georgia. The bank elected to go into liquidation in 2015. Creditors sued, and accepted a final settlement in 2017.
Kelcy Lee Warren is an American billionaire and the chairman and chief executive officer of Energy Transfer Partners.
Fidelity Trust Company was a bank in Philadelphia, Pennsylvania. Founded in 1866 as Fidelity Insurance, Trust, & Safe Deposit Company, the bank was later renamed Fidelity Trust Company, Fidelity-Philadelphia Trust Company, The Fidelity Bank, and Fidelity Bank, National Association. It was absorbed in 1988 in the biggest U.S. bank merger up to that point, and is today part of Wells Fargo.
Wells Fargo was an American banking company based in San Francisco, California, that was acquired by Norwest Corporation in 1998. During the California Gold Rush in early 1848 at Sutter's Mill near Coloma, California, financiers and entrepreneurs from all over North America and the world flocked to California, drawn by the promise of huge profits. Vermont native Henry Wells and New Yorker William G. Fargo watched the California economy boom with keen interest. Before either Wells or Fargo could pursue opportunities offered in the Western United States, however, they had business to attend to in the Eastern United States.
