Who took over Norwest Financial?
Who took over Norwest Financial?
Wells Fargo
Norwest Corporation
| Final logo of Norwest | |
|---|---|
| Trade name | Norwest Bank |
| Fate | Acquired Wells Fargo in 1998 and assumed the Wells Fargo name |
| Successor | Wells Fargo |
| Headquarters | Minneapolis, Minnesota , United States |
What happened Norwest Mortgage?
Norwest Mortgage, the nation’s largest retailer of home loans, will change its name April 17 to Wells Fargo Home Mortgage after its parent company, Wells Fargo & Co.
When did Wells Fargo take over Norwest?
June 8, 1998
On June 8, 1998, California-based Wells Fargo and Minneapolis banking company, Norwest announced a “merger of equals” in a stock deal valued at $34 billion and one that created the Western Hemisphere’s most extensive and diversified financial services network.
Who acquired Norwest Mortgage?
Wells Fargo & Co.
Norwest Corp., the nation’s largest mortgage lender, announced yesterday a $34.4 billion merger with Wells Fargo & Co., which would create another banking giant amid a flurry of mammoth deals that are redefining the financial services industry.
What bank did Wells Fargo buy?
Wachovia
After close to a century and a half of steady growth, Wells Fargo merged with Norwest Corp. in 1998. A decade later, Wells Fargo bought out East Coast giant Wachovia. Add them all together, and Wells Fargo can now claim over 70 million customers from coast to coast.
What bank purchased Wells Fargo?
Wachovia
| Type | Public |
|---|---|
| Fate | Acquired by Wells Fargo |
| Headquarters | Charlotte, North Carolina |
| Products | Banking, Investments |
| Owner | Wells Fargo |
How much of Bank of America does China own?
No, Bank of America isn’t owned by China. BofA is an American multinational investment bank that has a partnership with China Construction Bank. In 2011 they decided to sell about half of their stake (about 13.1 billion) in the Chinese company.
