Warren Buffett Loves Wells Fargo – Will CFOs in San Francisco Love the Brand, Too?
Warren Buffett has been championing the Wells Fargo brand recently, even going so far as to say that Wells is his favorite bank. That’s a pretty big statement and one that will surely get the attention of multi-million or billion dollar businesses in the heart of San Francisco where Wells Fargo started and dominates. One can applaud Wells Fargo for many of the same reasons that Buffet does – the low cost of funding for business lending and the attentiveness of CEO John Stumpf, who says he starts everyday reviewing the bank’s deposit figures, are among Wells Fargo’s many offerings. (Stumpf has his own Wikipedia page too, btw.) I expect that Buffett likes ROI kinds of guys. As do I. As a market researcher who firmly believes that success comes with research-based planning, I imagine that Buffett would join me in applauding Wells Fargo for reaching out to the C-level decision makers who choose which bank they work with to ask them questions directly. I think that’s a very smart move.
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