Wales Vargo spent years concerned about the past. Now you can focus on the future.

Wales Vargo (WFCAxisable years have spent about the past. Now you can focus on the future.

The fourth largest American bank plans to follow up on growth and expansion of investment banking services, credit cards, and wealth management now after he threw a Restriction of the main growth The past decade was imposed by the organizers as a punishment for a fake account scandal that collected the financial institution in San Francisco.

“Now I can start getting more fun,” Charlie Charf, CEO of Wales Fargo He said in the Wall Street Journal interview Last week.

the Cap raised assets of $ 1.95 trillion Schaar will help go to the attack because he is trying to make Wells Fargo in a creation player in Wall Street to invest in Wall Street, leaving very competing business as he is lagging behind the Wall Street giants like Goldman Sachs (GS), Jpmorgan Chase (Jpm), Morgan Stanley (Ms).

In fact, Scharf told the Wall Street Journal that he wanted Wales Farjo to be one of the five best investment banks, “Then there will be an argument about,” well, why there are no five, three or three? “

On the main street, Wells Fargo also wants to play annex after losing the main opportunities to raise deposits during the Covid-19s and regional banking disorders for 2023. You also want to add more credit card products and better integrate wealth management with retail branches.

“The gift that continues to give to” competitors “.

Stephen Alexopoulos, an analyst at TD Securities, an analyst at TD Securities Steven Alexopoulos, added that the development of the American Consumer Bank is the place where “heavy lifting” is required to transfer Wells Fargo shares. Consumer business attracts nearly half of the bank’s revenues.

However, “igniting growth in this field is far from throwing the ball,” added Alexopoulos.

Even after his decisive teacher passed, Wales Vargo did not rise, as it ended 2 % last week. But it has increased by 30 % over the past 12 months, before its Citigroup rivals (CAnd Bank of America (Pile) While JPMorgan and Goldman Sachs were late.

“We haven’t changed any EPS estimates … but now and now the time I think is in a growth position and the perfect market share mode,” said Piper Sandler Sevars.

In one place, Wall Street expects the Wells Fargo to appear more quickly in the short term is to spend on risk and compliance costs.

For years, the bank has turned millions to increased these operations to meet the expectations of the organizers. Now that the growth restrictions in Wales Vargo, analysts hope that a lot of additional spending will be restored to the bank cultivation.