WELLS FARGO STRATEGIC

PLAN 2017 -2022

Sindiso Mhlanga
Julio Ramos
GR 508 Management Policy | Summer 2017| ICCI
 Overview
 Wells Fargo is an established banking and financial
institution.
 Consistent and impressive performance while
maintaining market share, specific to banking services.
 Unethical Activity of the 2m fictitious accounts threaten
the Banks continued success.
 Fresh Perspective required – Revamping Operations
and Duplicating Marketing Efforts.
 Calls for – Strategic Plan 2017-2022
 Elevator Pitch
ESTABLISHED TO BUILD UPON

v Domestic and Global Recognition v Build Brand positioning

v Private Wealth Management v Increase digital sales

v Diversification of Portfolios v Upgrade Risk & Compliance

v Productive and Integrated Services v Improve end processes

v Relationship Finance & Banking v Improve stakeholder satisfaction

Services v Improve Value and Organizational Culture

v Convenient & Real-time Services

v Reinforced Risk Capabilities

 Mission & Vision Statements
 Our Mission Statement:
"Our product: SERVICE. Our Value-added:
FINANCIAL ADVICE. Our competitive advantage: OUR
PEOPLE.”

 Vision Statement:
“We want to satisfy our customers’ financial needs
and help them succeed financially.”
 SWOT Analysis
Strengths
- Strong brand name
- Strong credit rating
- Extensive distribution network
- Cross selling diverse products and
services
- Size and coverage in the United States
Opportunities
- Growing immigrant population-
diversity
- Growth in commercial banking
- Acquisitions, e.g., Wachovia
- International expansion
- Diversifying portfolios for customers
- Technology enabled offerings
Weaknesses
- Banking sector is highly competitive
- Legal issues and scandal
- Large size makes it vulnerable to
fraudulent activity
- Limited international acclaim
- Low customer care and satisfaction
Threats
- Rising incidents of online scams
- Regulations on contingent commission
- Strict compliance in conducting
banking business
 Goals

 Customer Service and Advice

 Team Member Engagement
 Innovation
 Risk Management
 Corporate Citizenship
 Shareholder Value
 Key Performance Indicators (KPIs)
Customer: Customer oriented

Financial: Financial KPIs analyze the impact of the

firm’s financial actions

Internal & External Business Processes: These KPIs

relate mostly to the internal workings of the firm.
 Target Customers
 Customer oriented strategy
 Prioritizes providing services in banking, investments,
insurance and consumer financial services
 Provide Community banking for individuals and small
businesses and wholesale banking for larger firms
 Wells Fargo has three major customers, individuals,
small companies and large firms
 Industry Analysis
Competitors Strengths
 Commonly known as the "big four," these banks, including Wells
Fargo, hold altogether approximately 35-40% of all United States
bank deposits and serve the majority of both personal and
commercial accounts in the United States

 JP Morgan Chase operates in over 75 countries through Asset

Management, Corporate and Investment Banking, Consumer and
Community Banking and Commercial Banking

 Bank of America has a vast retail banking presence with retail

operations in all 50 states serving more than 50 million consumer
and savings accounts
 Marketing Plan

 Position Statement
 Objectives Revisited
 Performance Measurement & Analysis
 Team & Operational Plans

 Revamping

 Restructuring

 Redundant

 Motivating

 Bringing on Board
 Financial Projections

 Stable – Year on Year Increase in Income

 Consistent – Asset Base of liquidity continue to

increase
 Strong – Increase in Assets leads to strong capital

 Promising – Growth Prospect are maintained and

looks promising in industry and market.
 Recommendations & Conclusion

 Continue the ongoing transition

 Take on Goals and adopt into culture
 Use Goals as benchmark
 Take proactive and aggressive marketing efforts
 Continue to cross sell services within divisions
 Maintain lines of communication with Customers and
Stakeholders
 References
David, F. (2013). Strategic Management Concepts (13th ed.).New Jersey: Prentice Hall
Kovacevich, R. (2006). The Vision and Values of Wells Fargo. Retrieved from http://
goodbadstrategy.com/wp-content/downloads/VisionValuesOfWellsFargo.pdf
Maverick, J. (2015). Who Are Wells Fargo’s Main Competitors. Retrieved from http://
www.investopedia.com/articles/markets/090915/who-are-wells-fargos-main-
competitors.asp
Maxfield, J. (September, 2016). 2 Million Accounts Wrongly Opened at Wells Fargo
@themotleyfool #stocks $WFC. Retrieved September 12, 2017, from https://
www.fool.com/investing/2016/09/09/2-million-accounts-wrongly-opened-at-wells-
fargo.aspx
McGee, J. (2015). What Warren Buffet Loves About Wells Fargo. Retrieved from https://
thecollegeinvestor.com/3655/warren-buffett-loves-wells-fargo/
Sherman, L. (2017). Corporate Mission Statements Don’t Really Matter Unless you want to become
a Great Leader.Forbes. Retrieved from https://www.forbes.com/sites/lensherman/
2017/04/03/corporate-mission-statements-dont-really-matter-unless-you-want-to-be-
a-great-leader/#377907e92246
 References
Wells Fargo & Company Comparisons to its Competitors, Market share, and Competitiveness by
Segment - CSIMarket. (2016). Csimarket.com. Retrieved from http://csimarket.com/
stocks/compet_glance.php?code=WFC
Wells Fargo &' Company Comparison to its Competitors, Market Share, and Competitiveness by
Segment (2017). Retrieved September 14, 2017, from https://csimarket.com/stocks/
compet_glance.php?code=WFC
Wells Fargo (2006). Our Vision. Retrieved from https://www.wellsfargo.com/about/corporate/
vision-and-values/our-vision
Wells Fargo CEO Tim Sloan Announces Six New Long-Term Goals and Provides Update on
Rebuilding Trust Actions. (2017). Retrieved September 14, 2017, from https://
newsroom.wf.com/press-release/corporate-and-financial/wells-fargo-ceo-tim-sloan-
announces-six-new-long-term-goals
 This concludes the
presentation. Thank you for
your time.