Seems like lots of internal roles don’t have this as a hub location anymore. All of Charlie directs are in NY. Why has the hq not officially moved to NY?
22 replies (most recent on top)
India is being of the headquarters.
Wells Fargo did not buy Wachovia. Norwest bought First Union. First Union bought Wachovia and because of the bad reputation First Union had they took the Wachovia name.
Same as Norwest taking the Wells Fargo name.
So what we really have is a merger of two bad banks.
They're moving it back to ireland. And then getting into potato farming
Who cares. FRTO.
It's OK for Charlie to work remotely. Do as I say, not as I do.
@1crf has it slightly wrong. WF-Norwest was a merger in name only. Norwest bought WF because it had a bad rep and brand recognition while WF was early in the online banking game.
WF weakened itself enough to be bought when it made a huge mistake by buying First Interstate.
Wachovia was bought for 19 cents a share and was the last smart thing WF leadership did. Blaming the Wachovia acquisition for the demise of WFC is insane.
That’s correct about the Wachovia merger. WF inserted a bunch of middle managers from Wachovia who didn’t know the WF business. Those middle managers were a real bandwidth drain on their superiors and direct reports. WF hasn’t been the same since. Anyone who denies this it’s too new or ignorant.
WFB has always been week......allowed itself to be flushed down the toilet with Norwest Merger placing their leaders in the key WFB roles, then if that was not enough, bought Wachovia for pennies on the dollar, a bank that was so bad the Government had to take it over, then WFB replaced the leadership with all Wachovia.....that was the final straw for Wells Fu-ko.......the bank went to sh-t. It will never recover. They can't hire enough JPM reject employees to fix the F'd up moves the board has made.
guess what. both NY and SF are considered "specialty markets", meaning that they are allowed for hiring, but not encouraged.
Headquarters is a corporate legality. It doesn't really mean anything in terms of who sits where.
But would the sales practice scandal be uncovered if WF did not untrench Wachovia?
My guess is that it would stay buried and secretly corrected…
@nkr+1jzKgPro Nice try, but pretty sure the biggest mistake WF made in a long time started before Wachovia. Tolstedt and the sales practices scandal.
They can't afford SF talent
I really hope I’m doomed. Hello! Golden severance.
Now it is mostly India, CLT, MN, Iowa, Dallas (Near future?) and NY for management. All folks outside these areas are doomed IMO.
CLT = former Wachovia. I.e. The biggest mistake WF made in a very long time.
HQ is SF, leaders in NYC, checks from Minny, and the biggest chunk of employees in CLT. Nobody said it had to make sense.
I thought Austin had more bicycles without seats?
San Francisco has more bicycles without seats than any other city in the US.
I’m afraid the Minneapolis ego has never gone away since the NW merger. Agreed, SF headquarters in name only. Keep in mind that the biggest of the bigwigs are in NYC. So let’s assume that NYC is the new headquarters.
Charlie wants to keep it as-is so when the next scandal breaks, the protestors will picket there vs. his NY perch, not realizing nobody is in the Montgomery building
The checks have had a Minneapolis address on them since Norwest took over.
SF has been headquarters in name only for over 2 decades.