From a recent article
“ In fact, this year, Wells Fargo has outperformed its peers – up about 32% year to date at Friday's prices.
Yes, Wells Fargo is winning. Investors want to know why, and whether it's sustainable. The answers are yes and yes, for one key reason: improved risk management and oversight.
Scharf has Wells Fargo on the right path back, as it has made efforts to further diversify its revenue stream by investing in its investment banking business, as it lags behind the other big banks.
Wells Fargo's efficiency ratio is very high at 83%, which means its expenses are higher in relation to its revenue. But Scharf plans to cut expenses by $10 billion.“