Stumpf says Wells Fargo is interested in expanding

03/11/2011 | InvestmentNews (free registration)

John Stumpf, chief executive officer at Wells Fargo, said the San Francisco-based bank wants to expand through acquisitions or other means. Wells Fargo might have to focus on nonbank companies with the U.S. restricting the percentage of deposits for a single bank. However, Stumpf said regulators could allow exemptions in the case of distressed banks.

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