What it does
The company states that it is a Delaware corporation, financial holding company and bank holding company whose principal business is holding subsidiaries. It provides banking, investment and mortgage products and services, consumer and commercial finance, and financial services for individuals, businesses and institutions. Its offerings include deposit accounts, cards and lending; wealth management, brokerage, financial planning, trust and fiduciary services; and banking, credit, treasury management, capital markets, lending, sales, trading and research services. The filing lists four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
Source: Wells Fargo & Company Form 10-K for fiscal 2025, Item 1 — sec.gov
How it makes money
The company states that it serves customers through four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Its consumer activities include deposit accounts, cards, and home, auto, personal and small-business lending. For businesses and institutions, the filing describes banking and credit products, secured lending and lease products, treasury management, commercial real estate lending and servicing, and capital-markets services. It also describes wealth management, brokerage, financial planning, private banking, trust and fiduciary services as part of its financial-services activities.
Source: Wells Fargo & Company Form 10-K for fiscal 2025, Item 1 — sec.gov
Customers and geography
The filing states that Wells Fargo provides services to individuals, businesses and institutions, primarily in the U.S. and also in countries outside the U.S. Consumer customers are offered deposit accounts, cards, lending, wealth management, brokerage and financial-planning services. The company also serves private, family-owned and public companies, municipalities, and corporate, commercial real estate, government and institutional clients. Its business customers use banking and credit products, secured lending and lease products, and treasury management, while institutional and corporate clients can use corporate and investment banking, lending, equity and fixed-income solutions, and sales, trading and research capabilities.
Source: Wells Fargo & Company Form 10-K for fiscal 2025, Item 1 — sec.gov
Competition
The company states that the financial-services industry is highly competitive. The filing names banks, savings and loan associations, credit unions, finance companies, mortgage banking companies, insurance companies, investment banks, investment advisory firms and mutual fund companies as competitors. It also lists investment managers, brokerage houses, private equity and private credit firms, financial technology companies, and financial-services subsidiaries of commercial and manufacturing companies. According to the filing, many competitors have fewer regulatory constraints and some may have lower cost structures. It also states that technological advances and the digital economy have enabled non-depository institutions and others to offer or deliver financial solutions traditionally associated with banks.
Source: Wells Fargo & Company Form 10-K for fiscal 2025, Item 1 — sec.gov
People and operations
At December 31, 2025, the company had approximately 205,000 active employees; the filing states that approximately 76% were based in the United States. The company states that its global workforce was 50% female and 50% male. It describes compensation as linked to performance management and designed to promote prudent risk management and reinforce its culture and operating standards. The filing also says eligible employees and dependents receive benefits supporting physical, financial and emotional health. For certain non-customer-facing roles, employees may work remotely up to two days a week and are expected to spend at least three days a week in the office; expectations vary for other roles.
Source: Wells Fargo & Company Form 10-K for fiscal 2025, Item 1 — sec.gov