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Wells Fargo and Co (WFC)’s 4th Quarter 2014 Earnings Conference Call Transcript

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Below is the transcript of the Wells Fargo & Co (NYSE:WFC)’s 4th Quarter 2014, earnings conference call, held on 14th January, 2015 at 10:00 a.m. EST.


Largest Financial Services Companies


Wells Fargo & Co (NYSE:WFC) is a community-based, diversified financial services company. Being community-based distinguishes them from every other large bank. By “community-based” they mean they’re not just a bank that happens to be in the community; they’re a community bank. They’re “in and of” every community in which they do business, whether it’s Chapel Hill, N.C.; or Mason City, Iowa; or Roseville, Calif. And they’re in more U.S. communities than any of their competitors.

Company Representatives:

Jim Rowe, Director Industrial Relations.

John Stumpf, Chairman and Chief Executive Officer.

John Shrewsberry, Chief Financial Officer.



Joe Morford, RBC Capital Markets

John McDonald, Sanford C. Bernstein & Company

Erika Najarian, Bank of America Merrill Lynch

Ken Usdin, Jefferies Group

Paul Miller, FBR

Bill Carcache, Nomura Securities

Mike Mayo, CLSA

Matt O Connor, Deutsche Bank

Betsy Graseck, Morgan Stanley

John Pancari, Evercore International Strategy & Investment

Eric Wasserstein, Guggenheim Securities

Chris Mutascio, Keefe, Bruyette & Woods

Nancy Bush, NAB

Marty Mosby, Vining Sparks.



Good Morning, My name is Regina and I will be your conference operator today. At this time I would like to welcome everyone to the Wells Fargo 4th Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a questions-and-answers session. If you would like to ask a question during this time, simply press star and then the number 1 on your telephone keypad. If you would like to withdraw your question, press the pound key. I would now like to turn the call over to Jim Rowe, Director of Industry Relations. Mr. Rowe, you may begin your conference.


Jim Rowe, Director Industrial Relations

Thank you, Regina, and good morning, everyone. Thank you for joining our call today where our Chairman and CEO, John Stumpf; and our CFO, John Shrewsberry will discuss 4th Quarter results and answer your questions. Before we get started, I would like to remind you that our 4th Quarter earnings release and quarterly supplement are available on our website at I would also like to caution you that we may make forward-looking statements during today’s call that are subject to risks and uncertainties.

Factors that may cause actual results to differ materially from expectations are detailed in our SEC filings, including the form 8-K filed today containing our earnings release and quarterly supplement. Information about any non-GAAP financial measures referenced, including a reconciliation of those measures to GAAP measures, can also be found in our SEC filings, in the earnings release and in the quarterly supplement available on our website. I will now turn the call over to our Chairman and CEO, John Stumpf.

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