Wells Fargo and Company

About Wells Fargo and Company

The story begins not in California, but in New York, with two seasoned entrepreneurs, Henry Wells and William G. Fargo. Having already co-founded American Express, they saw a new opportunity brewing out west. The California Gold Rush was in full swing, creating a massive need for services far beyond what traditional institutions could offer. While their partners at American Express were hesitant to expand to the volatile West Coast, Wells and Fargo were not. On March 18, 1852, they founded Wells, Fargo & Company to provide two critical services to the frontier: express and banking. The business wasn't just about sending mail; it was about securely moving the lifeblood of the new economy—gold. Their iconic stagecoaches transported gold dust, bullion, and mail, quickly becoming a trusted name in a chaotic market. The company's journey saw it separate its banking and express operations in 1905. The banking arm grew through a series of mergers, including with the Nevada National Bank. A pivotal moment came much later, in 1998, with a significant acquisition. Minneapolis-based Norwest Corporation acquired Wells Fargo and, recognizing the power of the historic brand, adopted the Wells Fargo name and its stagecoach symbol. This move created a national banking powerhouse, combining Norwest’s Midwest presence with Wells Fargo’s strong West Coast franchise.