Wells Fargo & Co. (NYSE: WFC) told investors on Thursday that it would focus on growth by starting to sell more of its services to former customers of Wachovia, which it had acquired at the end of 2008.
Wells Fargo CFO Howard Atkins told investors now that they see losses easing from the financial crisis, that it’s going to focus on increasing its market share during the bank’s first investor conference in 12 years in San Francisco.
Executives from Wells Fargo’s consumer and mortgage lending businesses said that they are increasing the scope of products that they are selling to customers, such as credit card cards, other loans, brokerage accounts and savings account and increasing the size of its staff to sell to existing Wells Fargo and former Wachovia customers.
Wells Fargo Home Mortgage is already hiring more staff for the Wachovia branches that it has acquired, despite already being the largest U.S. mortgage originator.
The San Francisco-based bank has previously been criticized for a lack of transparency and disclosure the past, but is making an effort to be more open about its business operations by hosting investor conference sand hosting live quarterly calls with analysts.
