Wells Fargo & Company (NYSE:WFC) Morgan Stanley US Financials, Payments & CRE Conference June 14, 2022 8:45 AM ET Company Participants Mike Santomassimo - Chief Financial Officer Conference Call Participants Betsy Graseck - Morgan Stanley Betsy Graseck All right. Thanks everybody for joining us this morning. We are delighted to have with us today Mike Santomassimo, CFO of Wells Fargo. Thanks so much, Mike. Mike Santomassimo Yes. Thanks for having me. Great to be in person. Question-and-Answer Session Q - Be ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-2979 WELLS FARGO & COMPANY (Exact name of registrant as specified in its charter) Delaware No. 41-0449260 ...

Wells Fargo & Company (NYSE:WFC) Q1 2022 Earnings Conference Call April 14, 2022 10:00 AM ET Company Participants John Campbell - Director, IR Charlie Scharf - CEO Mike Santomassimo - CFO Conference Call Participants Scott Siefers - Piper Sandler Steven Chubak - Wolfe Research John Pancari - Evercore ISI Ken Usdin - Jefferies John McDonald - Autonomous Research Ebrahim Poonawala - Bank of America Betsy Graseck - Morgan Stanley Matt O’Connor - Deutsche Bank Erika Najarian - UBS Charles Peabody - Portales Par ...

Wells Fargo & Company (NYSE:WFC) 2022 RBC Capital Markets Global Financial Institutions Conference Call March 9, 2022 10:40 AM ET Company Participants Saul Van Beurden - Senior Executive Vice President, Head of Technology Conference Call Participants Gerard Cassidy - RBC Capital Markets Gerard Cassidy Good morning everyone. This is Gerard Cassidy with RBC Capital Markets. Welcome back to the Financial Institutions Conference for 2022. We're very pleased to have Wells Fargo participating in our conference th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 Commission File Number 001-2979 WELLS FARGO & COMPANY (Exact name of registrant as specified in its charter) Delaware No. 41-0449260 (State of incorporation) (I.R.S. Employer Identification No.) 420 Montgomery Street, San Francisco, California 94104 (Address of principal executive offices) (Zip code) ...

Wells Fargo & Company (NYSE:WFC) Q4 2021 Results Conference Call January 14, 2022 10:00 AM ET Company Participants John Campbell - Director of Investor Relations Charles Scharf - Chief Executive Officer Mike Santomassimo - Chief Financial Officer Conference Call Participants John McDonald - Autonomous Research Ken Usdin - Jefferies Betsy Graseck - Morgan Stanley Erika Najarian - UBS Matt O'Connor - Deutsche Bank Scott Siefers - Piper Sandler John Pancari - Evercore ISI David Long - Raymond James Steven Chub ...

Summary of Wells Fargo & Company Conference Call Company Overview - **Company**: Wells Fargo & Company (NYSE: WFC) - **Event**: 2021 Goldman Sachs U.S. Financial Services Conference - **Date**: December 7, 2021 - **Participants**: Charles Scharf (President & CEO), Richard Ramsden (Goldman Sachs) Key Points Economic Outlook - **Economic Growth**: Anticipated strong economic growth in 2022, with a focus on consumer spending and liquidity in the system [3][4] - **Consumer Behavior**: Consumers have approximately 30% to 35% more in deposit accounts compared to pre-COVID levels, indicating strong financial health across various wealth levels [5] - **Job Market**: There are more job openings than available workers, contributing to wage increases and consumer confidence [5][6] Inflation and Interest Rates - **Inflation Concerns**: Significant concern regarding inflation, with rising input costs and labor shortages impacting various industries [10][11] - **Interest Rate Policy**: Suggestion that the Federal Reserve should act more quickly to address inflation, with expectations for a quicker path to appropriate actions [10][11] Strategic Priorities - **Regulatory Issues**: Resolving risk and regulatory problems remains the top priority for Wells Fargo, with significant changes in senior management and board composition since 2017 [13][14][15] - **Business Capabilities**: Commitment to enhancing business capabilities across all franchises, including credit cards, treasury services, and digital platforms [16][18] - **Cross-Selling Opportunities**: Emphasis on improving cross-selling among different business units to leverage existing customer relationships [17][18] Financial Performance and Targets - **Return on Tangible Common Equity (ROTCE)**: Aiming for a ROTCE of 15% over time, with an interim target of 10% expected to be reached in 2022 [24][26] - **Loan Growth**: Positive trends in loan demand across consumer and corporate sectors, with expectations for continued growth into 2022 [28][30] Capital Markets Strategy - **Corporate Investment Bank (CIB)**: Focus on growing the CIB by serving existing customers better and capturing more wallet share, particularly in the middle market [38][40] - **Asset Cap Impact**: The asset cap has limited growth opportunities, but there is optimism for regaining lost business once it is lifted [42] Expense Management - **Expense Reduction Goals**: Targeting $53.5 billion in expenses for the year, with a focus on cutting unnecessary costs while investing in risk management [43][45] - **Operational Efficiency**: Streamlining operations by reducing branch numbers and management layers to improve efficiency [45][46] Capital Returns - **Dividends and Buybacks**: Plans to maintain a predictable dividend policy while balancing the need for capital reinvestment, especially until the asset cap is lifted [50][51] Credit Quality - **Charge-Off Rates**: Current charge-off rates are at a 30-year low, but normalization is expected as economic conditions change [53][54] - **Prudent Underwriting**: Emphasis on maintaining high standards in underwriting practices to mitigate future credit risks [55][56] Competitive Landscape - **Innovation and Disintermediation**: Acknowledgment of the competitive threat from fintech and payment companies, with a commitment to innovate and improve customer experience [58][60] - **Internal Collaboration**: Focus on breaking down silos within the organization to enhance service delivery and customer satisfaction [59][60] Additional Insights - **Regulatory Progress**: Ongoing efforts to address consent orders and improve internal controls, with a detailed project plan in place for compliance [20][22] - **Customer Loyalty**: Strong customer loyalty noted, with a desire to deepen relationships and expand service offerings [16][18] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Wells Fargo's focus on economic growth, regulatory compliance, and enhancing customer relationships while navigating a competitive landscape.