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Our Five Strategic Priorities

Our priorities are how we bring our vision and values to life in today’s environment. By making progress in these areas, and being faithful to our vision and values, we can continue to earn the trust of our customers, help them succeed financially and be known as one of the world’s best companies.

Putting customers first

Our first job is to understand our customers’ financial objectives, then offer them products and solutions to help satisfy those needs so they can be financially successful. If we do that right, then all sorts of good things happen for customers, team members, communities and shareholders.

We are advocates for our customers, put them at the center of everything we do, and give them such outstanding service and advice that they’ll give us all their business, honor us with repeat purchases, and rave about us to their family, friends and business associates.

We serve our customers when, where and how they want to be served—through our stores, ATMs, phone banks, internet and mobile banking channels. Very few, if any, customers are single-channel users. That’s why we integrate all our channels so we can offer our products and services anytime, anywhere our customers want to be served.

Serving our customers starts with knowing our customers. The more we know about our customers’ needs, the more we can offer them the choice, convenience and price benefits they look for. Our customers don’t do business with us just to be another account number. They want us to know them, respect them, appreciate them and reward them for doing business with us. The winners in financial services will be companies that know the most about their customers, obtain that information efficiently and securely, treat it respectfully and use it most wisely.

Growing revenue

Wells Fargo is a growth company, and the most important measure of growth is revenue. That’s the measure that shows us how well we serve all of our customers’ needs, earn their trust and grow our market share.

There are only three ways a company can grow. First, earn more business from your current customers. Second, attract customers from your competitors. Or third, buy another company. If you can’t do the first—earn more business from your current customers—what makes you think you can earn more business from your competitors’ customers or from customers you’d buy through an acquisition? You have to show you can grow revenue internally first. That’s called organic growth. You can’t buy your way to greatness. You have to earn it from your current customers.

Reducing expenses

We should live by a simple test: “If our customers, or our shareholders, knew we were spending money this way, would they approve?” If they wouldn’t, we shouldn’t. When we find wise ways to reduce our expenses, we free up funds to benefit our customers, invest in the future and reward our shareholders.

We should always be looking for ways to simplify our operations and make things easier for our customers and for our team members to do business. Taking steps out of processes and removing layers of organization that don’t need to be there help us stay fit and nimble as an organization.

From time to time, we might set expense-reduction targets to meet financial performance goals, but keeping an eye on our expenses and their effect on our bottom line is an ongoing process. It’s an important part of being responsible for the money that’s entrusted with us by others. We should all remember that we cut costs, not corners, when it comes to serving our customers or managing our risks.

Living our vision and values

Every day when we come to work, we have the opportunity to bring our vision and values to life. That’s what we do every time we help a customer or support a fellow team member. That’s where our vision and values need to live—in our everyday behaviors.

There’s an old saying: Actions speak louder than words. We need to show people what we believe. They need to see our vision and values come alive in everyday actions, not just posters on the wall. Our customers need to see us doing the right thing and helping them succeed financially. Our team members need to see all of us respecting, honoring and appreciating one another. Our communities need to see us involved and investing in projects important to them. That’s how we truly bring our vision and values to life.

Connecting with communities and stakeholders

These are stressful times for our country. On some days there seem to be more forces driving us apart than pulling us together. We stand for something else. We’re not the company for red states or blue states, for the 1 percent or the 99 percent; we’re here to serve all of our customers, to help them succeed financially, to invest in our communities and to help our nation grow stronger.

Our nation’s economic recovery is far too slow, unemployment remains stubbornly high and housing markets still struggle to recover. Millions of Americans are suffering and many of them are customers we serve, both individual consumers and business clients. We hear from them every day in our local banks, on our phone lines and over the internet. We also hear with increasing frequency from citizen groups, elected officials and regulators wanting us to assume increased responsibility for solving broad-based economic challenges.

Now is not the time to retreat but to reach out and connect with our stakeholders and communities, to listen and understand, to do what’s right, to admit mistakes and learn from them and, most important, to tell the Wells Fargo story and what makes us different to as many people as we can.

Our investments in community nonprofit organizations are at record levels. Our team member volunteer hours are at all-time highs. Our national partnerships with human rights, social services and environmental organizations are stronger than ever. We’re serving more customers, with higher levels of customer satisfaction, than at any time in our company’s history. And our financial performance has been recognized by individual and institutional investors alike, who through their investments have made Wells Fargo one of the most valuable U.S. banks in the nation and the world.

Read Our Future
 
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