Latest news with #MikeSantomassimo
Yahoo
a day ago
- Business
- Yahoo
Wells Fargo CFO says trading to be bigger driver of NII
Wells Fargo (WFC) CFO Mike Santomassimo, at the Morgan Stanley US Financials, Payments & CRE Conference 2025, says it is 'hard to get too excited' on loan growth changes. The CFO says the bank is not seeing any deterioration in the consumer portfolios and wouldn't expect too much commercial loan growth for the rest of the year. The executive adds that Wells is seeing a lot of green shoots in the deal business. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on WFC: Disclaimer & DisclosureReport an Issue Wells Fargo management to meet virtually with Truist Wells Fargo Predicts Double-Digit Upside for Shopify Stock Wells Fargo considering using balance sheet for direct lending, WSJ reports Senator Warren calls lifting Wells Fargo asset cap 'grave mistake' Trump says Fed 'must now' lower rates after ADP payrolls report: Morning Buzz
Reuters
2 days ago
- Business
- Reuters
Wells Fargo says consumer loan growth to stay muted or drop this year
NEW YORK, June 10 (Reuters) - Wells Fargo's (WFC.N), opens new tab Chief Financial Officer Mike Santomassimo said consumer loan growth is likely to remain muted for the rest of the year and could potentially slide. "I wouldn't expect large growth on the consumer side in any way, potentially even a net decline," Santomassimo told investors at a conference on Tuesday. It was a bit more difficult to predict growth in commercial loans, given uncertainty over U.S. tariff policies. The CFO spoke days after the Federal Reserve released Wells Fargo from a seven-year, $1.95 trillion cap on its assets imposed as a punishment in the wake of the bank's fake accounts scandal. The lender plans to focus on growing most of its businesses, including credit cards, investment banking, wealth management and commercial banking, CEO Charlie Scharf told Reuters in an interview last week. It is also seeing signs of improvement in dealmaking, Santomassimo said. "We are starting to see a little bit of share growth" in investment banking, he said. "We are certainly seeing lots of green shoots in terms of deals that we just wouldn't have been a part of earlier." Dealmaking has slowed this year as U.S. President Donald Trump's tariff and fiscal policies roiled markets, fueling economic uncertainty. Still, bank executives have expressed optimism about a resurgence. Citigroup's (C.N), opens new tab head of banking Vis Raghavan told the same conference that discussions for mergers and acquisitions continue to be "super active."
Yahoo
03-06-2025
- Business
- Yahoo
Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference
SAN FRANCISCO, June 03, 2025--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) said today that Chief Financial Officer Mike Santomassimo will present at the Morgan Stanley U.S. Financials Conference on Tuesday, June 10, 2025 at 9:00 a.m. ET. The live webcast will be available online at A replay of the webcast will be available for three months following the presentation. About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune's 2024 rankings of America's largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at LinkedIn: News Release Category: WF-CFH View source version on Contacts Media Beth Richek, Investor Relations John Campbell, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-04-2025
- Business
- Yahoo
Risk Is Rising, Says Wells Fargo CFO
Wells Fargo CFO Mike Santomassimo says risk is rising because of President Donald Trump's tariffs and the uncertainty around his policies. But Santomassimo says consumers are still spending. The bank's first-quarter net interest income missed analyst estimates. Santomassimo speaks on "Bloomberg The Close."
Bloomberg
11-04-2025
- Business
- Bloomberg
Risk Is Rising, Says Wells Fargo CFO
Wells Fargo CFO Mike Santomassimo says risk is rising because of President Donald Trump's tariffs and the uncertainty around his policies. But Santomassimo says consumers are still spending. The bank's first-quarter net interest income missed analyst estimates. Santomassimo speaks on "Bloomberg The Close." (Source: Bloomberg)
