Wells Fargo & Company (NYSE:WFC), announced today that it will eliminate
all product sales goals in retail banking, effective January 1, 2017.
“Our objective has always been and continues to be to meet our
customers’ financial needs and drive customer satisfaction,” said CEO
John Stumpf. “We are eliminating product sales goals because we want to
make certain our customers have full confidence that our retail bankers
are always focused on the best interests of customers.”
“We believe this decision is both good for our customers and good for
our business. The key to our success is the lifelong relationships that
result from providing each customer with great value. For the past
several years, we have significantly strengthened our training programs,
controls and oversight and have evolved our model to ensure we are
rewarding deeper relationships and providing excellent customer service.
The elimination of product sales goals represents another step to
reinforce our service culture, helps ensure that nothing gets in the way
of our ability to achieve our mission, and is consistent with our
commitment to providing a great place to work,” concluded Stumpf.
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.
