With its market capitalization nearing $300 billion, Wells Fargo & Co. (NYSE:WFC) has jumped past the Industrial & Commercial Bank of China as well as its U.S. peers to become the most valuable bank in the world. The Wall Street Journal reports that threshold is a first for U.S. banks, and it’s one that illustrates the relative strength of the domestic economy. Wells Fargo largely owes its success to its simple business model that doesn’t rely too heavily on complex derivatives or risky trades,…
Comment on Wells Fargo becomes world’s most valuable bank
Jen Wilson, Biz Journals
Thu, 07/23/2015 - 9:56pm
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