Wells Fargo to Outsource to the Philippines
Despite all the political pressures in the United States for businesses not to outsource, the second largest American banking company, Wells Fargo and Co., will proceed in moving some its business support activities to the Philippines. For this, the U.S. bank has set up Wells Fargo Philippines Solutions Inc., which is following the footsetps of other banking giants such as JP Morgan Chase and Citigroup.
Wells Fargo & Company (NYSE: WFC) is an American multinational diversified financial services company with operations around the world. It is the second largest bank in the United States in terms of deposits, home mortgage servicing, and debit cards. Wells Fargo is headquartered in San Francisco, California, but has major “hubquarters” in other cities throughout the country. In 2011, Wells Fargo had more than 9,000 retail branches and 12,231 automated teller machines in 39 states and the District of Columbia. It has over 270,000 employees and over 70 million customers.
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