“Wells Fargo is disappointed that the Chicago City Council has chosen to
suspend a relationship with one of the nation’s safest and strongest
financial institutions at a time when the city needs access to
dependable financial partners.
“We have diligently and professionally worked with the city since 1970
to support its government, communities, and residents. Our highly
experienced and proven government banking, securities, and treasury
management teams stand ready to continue delivering outstanding service
to the city. Since 2006, Wells Fargo has underwritten $4.7 billion of
debt issued by the City of Chicago and its sister agencies, of which
nearly $1.6 billion was senior-managed by Wells Fargo.
“We manage the city’s business in our Government & Institutional Banking
division, which is separate from our retail bank. We have no bank
branches in the city. We will continue to serve our local customers and
be the same committed community partner in this city, where in 2015 we
donated more than $2.8 million to 382 nonprofits, gave more than
$803,700 to match our team members’ gifts to 370 educational
institutions and foundations, and totaled $1.4 million in team member
contributions to local nonprofits through our annual Community Support
and United Way Campaign.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Founded in 1852
and headquartered in San Francisco, Wells Fargo provides banking,
insurance, investments, mortgage, and consumer and commercial finance
through more than 8,600 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 36 countries and
territories to support customers who conduct business in the global
economy. With approximately 268,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 27 on Fortune’s 2016 rankings of America’s largest
corporations. Wells Fargo’s vision is to satisfy our customers’
financial needs and help them succeed financially. Wells Fargo
perspectives are also available at Wells
Fargo Blogs and Wells
Fargo Stories.
