What kind of bank will Wells Fargo be?

WELLS FARGO has reinvented itself before. In a vault beneath the banks headquarters in San Francisco is an archive of papers and objects from the 1860s, when the companys stagecoaches criss-crossed America delivering packages. Advertising posters tout the security of their wagons, thanks to the sharp-shooting skills of the marksmen that accompanied them. As first the railroads, then the telegram and later a government-run delivery service threatened the survival of the firm its bosses adapted, using customers trust in their brand to expand their banking business.Charlie Scharf, who took over as the banks chief executive on October 21st, must transform Wells once again. He comes from BNY Mellon, a smaller bank based in New York. It is rare for a giant lender to pick an outsider to run it. The bosses of Americas other largest banksJPMorgan Chase, Bank of America, Citigroup, Morgan Stanley and Goldman Sachsare seasoned insiders.
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