Hello and Welcome

| 29 Comments

Hello! I'm John Stumpf, president and CEO of Wells Fargo & Company. On behalf of our 276,000 team members, welcome to the Wells Fargo-Wachovia Blog.

In my 26 years with the company, I've been involved in more than 100 mergers. With each one, it's natural for our customers to feel both excitement and some uncertainty at the same time. But you can be certain that as we combine our two companies we'll start every decision with what's best for you, our customers.

Blending cultures, combining businesses, products and systems, and changing names will take time — two to three years — because we want to do it right for you.

One way we'll keep you updated on what's happening with the integration of Wachovia and Wells Fargo is through this blog. Here we'll share news and information, and you can "join the conversation" and let us know along the way how we're doing and what we can do better to make the transition as smooth as possible.

So, as we integrate our two companies, it's business as usual for you. We hope to see you back here from time to time for updates and discussion along the way. When you return, you'll be guided by our two lead bloggers: Matt Wadley from Wachovia and Ann Marie Quinn from Wells Fargo.

We're one team, twice as strong and committed to make the ride as smooth as possible for everyone on the stagecoach.

Thank you!

John Stumpf

29 Comments

John

Thanks for your openness during this interesting merger. As a customer of Wachovia, I'm very interested to see how my customer experience will change during this integration, and applaud you for your open communications.

This really is a first: a major financial institution creating a blog with commentary related to the generally-turbulent act of integrating two major organizations. Integrations are nothing if not complex and challenging, and I applaud Wells for showing the courage to be open about the proverbial journey here. It demonstrates much confident leadership, and that's exactly what individuals want from financial institutions right now.

Thank you for your comments, Mr. Stumpf, and the opportunity to leave a comment.

Wells Fargo has a very good reputation in the financial industry, and I feel confident that the merger with Wachovia will have a high priority with you.

However, I have been been banking with Wachovia for a long time, and I really liked them as my bank. I am going to take a wait and see approach to your performance as my new banking institution. We have other choices in this area of NC as you are aware. I will give you a chance first, but if I feel that I am being treated as a "number", then I will go somewhere else.

Again, thanks for the opportunity to repsond.

I, too, will wait and see what happens with Wells Fargo. If it had been Citibank, my accounts would already be gone ;)

Mr. Stumpf, thank you for creating this blog during this complex integration. This is a truly innovative way to communicate any pending changes.

As a Wells Fargo customer who lived through the Wells Fargo/Norwest merger, I can assure Wachovia's customers that Wells Fargo can pull this off with few, if any, glitches. And, as a Wells Fargo customer living in New York City, I look forward to having a local Wells Fargo branch to visit soon. Please open more stores and ATMs in the New York metropolitan area ASAP. Thanks!

Well Fargo got a sleeping giant when they struck this deal - Wachovia has a great retail banking presence. I have been slowly easing my banking relationships down to NC from PA - I hope Wells brings in its expertise on the commercial lending side, where I think Wachovia is thin. On paper, this is a very good marriage so let's hope the obvious potential is realized and the merger is accomplished with a conscience. From a banking standpoint, I have seven accounts linked on Wachovia Connection and am wondering if the way we manage our accounts will be turned upside down. But, for now, our good relations with the branches is causing us to just sit tight and let things unfold.

As a long time Wachovia customer, perhaps Wachovia fan might be more accurate, I'll have to see what the overall impact of this transition from Wachovia to Wells Fargo brings along with it. WFC has a great name in the industry and I'm hopeful that they bring with them the same level of exception customer service that Wachovia made their name with. Wachovia was rated #1 in customer service for several years running and for very good reason. They earned it more through customer commitment than anything else. They are one of very few companies of any sort in the new corporate culture that has emerged in America that truly understood that their strength was in their customer base. Without that they would have been just another bank. No better and no worse than so many others. As long as the change over is smooth and seamless and the level of service remains at the same standards then I see no reason to move anyplace else. If not, then the options are many. I wish both the Wachovia personnel and Wells Fargo good luck in their efforts. It will be difficult on the best of days and horrid on the worst of days to be sure, but there is a way to make everything work out in the end. I also agree with the prior posters regarding C, and I'll add BAC into the mix. Had that become the choice then it would have been no choice at all.

I am so excited about this merger. I have been with Wells Fargo (then called Kelly Field) for 35+ years. I have been with Wachovia for over 20 years so I am in a win-win situation. I am retired military (Air Force). I feel as if I have the best of both financial worlds. Thanks Wells Fargo and Wachovia for being financially strong during this extremely difficult financial crisis.

Thank you for the opportunity to comment. I am a Wachovia customer (First Union before name change with Wachovia). I have received the benefit of excellent banking services provided by First Union, now Wachovia, in great contrast to the big banks where you are treated as a number. I am hopeful that Wells Fargo recognizes that not just Wachovia's business practices but the talented Wachovia staff I have been fortunate to have as my Wachovia bankers are assets that can make our transition to Wells Fargo a great success for the new Wells Fargo and us, your customers.

I wish you great success in this endeavor, for ALL our benefit.

I am in a 29 year love affair with Wachovia! They have been my bank for a very long time, and I have absolute faith in the decisions and choices they make! I am also a new fan of Wells Fargo!
I believe in the wisdom and broad intelligence of those leading us, so far Wachovia has never guided me wrong! I am saying Prayers for both companies, and the management teams guiding them! Deep in my heart of hearts I truly feel safe, and I know things will be O.K. I'm wishing all well! I like having a blog to see what others are thinking and what is going on and getting a real and clear idea of how any decisions made for these companies will affect me, and the decisions I must make in my life! Thanks Wells Fargo Thanks Wachovia! I will keep you both in a very good place in my heart! Take Care!

@Jeremiah Owyang | January 5, 2009 04:19 AM

Thank you so much for your comments and interest in the Wells Fargo-Wachovia integration. Even though it’s a pretty big undertaking, I can definitely tell you that both companies are committed to maintaining outstanding customer service. As you may know, Wachovia’s been ranked No. 1 by the American Customer Satisfaction Index for seven years in a row – it’s a standard we’re very proud of and aim to continue. When the merger is complete, we feel as though we’ll have an even better customer service network.

If you feel you’ve experienced any sort of drop off in service for any reason, I’d like to hear about it...just send a comment! That’s a big reason why we created this blog – to hear from and have a conversation with our customers. Oh, and if, as we expect, your service remains outstanding, I’d be happy to hear about that too!

Take care and thanks again.

Andrea Bierce
Customer Experience and Loyalty Director, Wachovia

As a Wachovia client, this whole situation leaves me feeling ambivalent towards the combination with Wells Fargo. Had Wachovia not pursued Golden West/World Savings in 2006 the financial picture would be much different right now. The Wachovia name is almost as old (1879)as Wells Fargo, and has a history just as rich. Wells Fargo is the surviving brand in this combination, so the test will be if they completely burry what Wachovia brings in so many different ways to the new company, and forget where it came from (i.e. Wachovia). I recently read the CC Sutton has left to take a position at Morgan Stanley. She's been the force behind Wachovia's no. 1 ranking in customer service for 7 years running. I look at this as Wells Fargo maintaining the status quo, vs. truly wanting to integrate and maintain the best of Wachovia. Time will tell. I would also like to see the combined company pay tribute to Wachovia's ancestry in some way(s). This could be done by leaving the wachovia.com website as a historical place, preservation of the Wachovia Championship, preservation of the name of buildings at NC headquarters, etc., etc. Thank you for the opportunity to comment.

I have been a Wells Fargo customer for a year, and I am also a team member. I love the small bank fell along with all the products that are offered. I am really excited about the merger and am confindent that it will be very successful for both Wells Fargo and Wachovia. It will be great to learn what Wachovia team members will bring to the table. I am so glad that Wells Fargo is taking their time merging with Wachovia. It makes it for a smooth transition. Thank you Mr. Stumpf for your words and continuing to make sure the merger is a sucess

I had a Wells Fargo account when I lived in San Francisco about 10 years ago. Wells Fargo is the best bank I've ever worked with - I was sad to leave my cool stagecoach-covered ATM card behind when I moved back East! As a Wachovia customer, I'm thrilled with the merger, and hope that WF's customer service focus and skill will rub off on Wachovia. (Frankly, it needs the help.) Good luck, and I look forward to being a happy customer for years to come!

When can we expect to be able to do deposits at either bank? I bank with Wells Fargo but live in a Wachovia state and would like to deposit money via the ATM verses the mail which is the only course of actin I currently have. It was not a problem when I only did a few deposits a year but now it has increased, any ideas?

I have been a long time Wachovia customer having left NCNB when they began to merger and customer service when to pot.
I will hope that WF will offer the same great customer service as Wachovia has for these many years.
I have had a very good relationship with the mortgage end of WF(two houses) but the one and only time I talked to a WF banking lender for a simple loan to upgrade my kitchen I was very disappointed. It seemed not to matter that WF Mortgage thought I was a "gold" customer I was treated by that individual as if my name was on the brown list.
I hope that the transition is smooth and easy. Thanks for putting up a blog where folks can express concerns.

I logged into WF online banking today and received the notice from John Stumpf. It was great to see and it was a very open, straight-forward message. It wasn't weighed down with marketing, but still pointed out the benefits to me as a customer -- the increased # of atms. It would have been nice to have seen a link to the blog. Continue the communications! Thank you.

John, I decided to bank with Wells Fargo even before the merger was in the works.I live in New York City where there is no Wells Fargo banking presence.When the banking troubles started I decided I needed a financially solvent banking in stitution with good customer service.The majority of my clients are based in the states where you are a major presence,and they overhelmingly recommended Wells Fargo Bank to me. I decided to take the plunge,opened an online account,and of course spoke with the phone banking centre numerous times on concerns and questions that I needed answered.The personnel were extremely efficient and knew their product.This is tantamount to good customer service.My overall experience thusfar has been extremely satisfying.I am European,and we tend to be a bit more demanding on the levels of customer service that we expect and are accustomed to,and I can honestly say the Wells Fargo people met all my expectations from online banking to bank by mail,online bill pay and just about everything else.I will recommend Wells Fargso to anybody that brings up the subjet of where to bank.You have a great team.There will be plenty of new customers for Wells Fargo here in the five boroughs of New York City and hopefully you will have a presence in each borough.My old bank was not even close to the levels of service and efficiency that I have gotten from Wells Fargo.Soon I will even have the opportunity to walk into a banking centre and this is terriffic. I think the eastern seaboard from Florida on up can really rest easy knowing there really is a great bank accessible to all of us on this end of the continent.
Congratulations, you did a great job!
Anton Petrescu de Perrella

We currently have a Wachovia brokerage account and a Wells Fargo Checking account. Can we assume that the two can be integrated under one Wells Fargo web access portal and we can transfer money back and forth? When do you think this integrated portal will be available?

I saw the commercial today and while banking at my Wachovia bank this morning, I saw the new Wells fargo merger sign. One team, twice as strong. Great job!

Hi John,
I've been with Wachovia for a year now. I just would like to express that I am thankful that we are merging with a great company that has great focus on customer and at the same time to it's own family / team members. We look forward to meeting the Wells Fargo folks who will be visiting our site soon. Thanks and more power to you. - Glendz

I am so excited about the Wells Fargo / Wachovia merger I am bursting at the seams. I have used a Wachovia checking account in Arlington, VA, as a convenient location to receive rental payments on an investment property for a number of years while I served in Iraq and other overseas locations. As a military service member, I have heard wonderful things about Wells Fargo's checking account program for military service members. As soon as my Wachovia account changes its name, hopefully later this year, I plan to make my Wachovia-- i.e. new Wells Fargo account my main checking account and to move my relationship from an outstanding military in TX when I know I am able to start taking advantage of Wells Fargo's military services. Having the benefit of military banking services for someone like me who moves frequently along with the convenience of a branch down the street near a home I own in the Washington DC area will be outstanding. Thanks so much for your hard work with the Wells Fargo merger and thanks for the outstanding services that Wells Fargo offers military service members! I am so happy that my Wachovia account will soon reap the benefits of being a Wells Fargo customer.

Although my experience with Wells Fargo is fairly new, I have been extemely disappointed in the entire foreclosure/short sale process. This entire process has taken a tremendous amount of time (over 5 months). No one is willing to help when contacting to see what information is required from either the seller or the buyer. Our mortgage will be financed through Wells Fargo and if this is how the financial institution will operate, I am not sure if we will want our mortgage through the company. We are approved, ready to purchase this home, and are getting no where! It appears that no one knows which end is up. Any suggestions???
Please contact me with any additional information that you may require.

when will Wachovia site ATM allow check deposit from wells fargo customers? when will wells fargo customers be able to use the branches? This merger seems to be dragging on and on with some glitches. When Wash Mutual and Chase merged, the ATM transition seemed seamless.

I received a message from your customer service department to supply more information regarding an issue. I called that representative person back and left a message for her on her voicemail a good time to contact me. That was Tuesday evening, at 6:45 EST. I have yet to receive a call back from her or anyone else. What happened to prompt customer service?

I have been a customer of Wachovia for over 30 years. Recently I purchased a home and went to wells fargo because of Wachovia. This has been the most stressfull experience I or my wife has ever had. I,am not sure if the merger to Wells Fargo was in Wachovia's best interest.
Perhaps this was only because of the one branch that handled my home loan. Please contact me and I will give specific information. This branch will be handing a number of people in my area. The Wachovia bank I deal with is great and I have only praise for the professional people that work there.

I had an account in 1998 which I closed. I need to get a copy of how the transaction happened and how my funds were paid. Please contact me for further instruction.

Angela Corinne Smaldino

MODERATOR'S NOTE: Just so you know, in accordance with our Comment Guidelines we removed a personal email address from this comment in order to protect the commenter's privacy. Nothing else has been changed or altered in any way. Please see About This Blog for more information.

PLease help. Holidaying in US 2009. Problems with ATMs. Your bank told us to contact home a.s.a.p which we did. Our bank in England blaming your banks for our problems. Back home English Ombudsman states our bank o.k. Please help, where did we go wrong. We used MAESTRO debit card. Thanks. Pat

I was excited to see Wells Fargo taking over Wachovia, because I have been out to the Midwest and would have liked access to my accounts. I have never dealt with Wachovia before, because we have done a lot of financing and have accounts with BB&T.

I wanted to switch moreso for my investments, but my friends who have accounts with Wachovia are switching because of the fees. I think, after hearing the CEO of Wells Fargo bragging about Wells Fargo's fee structure and how they aren't like the other banks, they probably should watch what Wachovia is doing.

I probably will switch if Wells Fargo takes over completely. Wachovia's brand is ruined and now represents a bunch of corporate crooks who squandered other people's money. Wells Fargo should put their own brand on this, which it sounds like they'll do but over a few years. I hope that Wells Fargo starts enforcing their own policies at Wachovia soon, because I'm not interested in waiting years. By the way I own Wells Fargo common and preferred stock, so I do believe in this company.

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