Posted on 01/20/2026 4:39:41 PM PST by CFW
Another major financial giant is planting its flag in Florida.
Wells Fargo confirmed to Fox News Digital that it is moving its wealth management headquarters to West Palm Beach, underscoring a growing exodus of money and corporate influence from traditional financial hubs to low-tax, business-friendly states.
The relocation makes Wells Fargo the first major U.S. bank to base its wealth-management operations in the Sunshine State.
"Wells Fargo Wealth and Investment Management (WIM) is advancing its strategic commitment to serving high and ultra‑high‑net‑worth clients by increasing its presence in West Palm Beach," a spokesperson told Fox News Digital. "Several senior leaders are relocating to the area, strengthening our local leadership presence, and deepening engagement with clients in this high-opportunity market."
"West Palm Beach’s strong business climate and expanding economic opportunities align well with our long‑term growth priorities—both in the region and across our organization," they continued. "Numerous members of WIM’s leader team will continue to be based in New York, St. Louis and Charlotte, North Carolina."
[snip]
CEO, chairman and real estate billionaire Stephen Ross is openly pushing to turn Palm Beach County into a "Silicon Valley of the East," and recently said he expects more recognizable names to expand their presence.
[snip]
Over the last five years, Palm Beach County has seen the relocation of more than 140 companies, the creation or retention of more than 13,110 direct jobs and more than $1.12 billion in capital investments, according to the Business Development Board of Palm Beach County. Since the 2020 U.S. Census, West Palm Beach has seen the largest population gain in the county at nearly 9,600 new residents.
(Excerpt) Read more at foxbusiness.com ...
Greenland has room.
“Greenland has room.”
LOL! They are going to need new banking institutions for all the incoming investments.
This affecting their Charlotte and San Fran centers as well?
“Go West Young Man, Go West” has been replaced by
“Go East, Men and Women of All Ages, Go East!”
Way to go, California liberals; pushing businesses out of the state. Meh.
The thinking may well be that if your money is managed in California, California will tax it. They need to do this to keep money from fleeing to safer areas.
In other news, companies which have long been incorporated in Delaware, because the laws favored corporate entities (i.e. management and directors) over stockholders, are beginning to look at moving their legal home to other states because of recent Chancery court rulings.
“it’s a big move for WF to move that much of their operations out of NY.”
All of the blue state voters that Wells Fargo is offering re-location packages to are not fleeing blue state insanity.
Hence,
They will not stop voting blue. They didn’t “flee” blue state insanity, they loved it.
Yay Florida! Go blue!!!!!
Fargo …….. largest bank fraud in US banking history. And nobody went to jail.
Well’s Fargo has had its problems, but it has been an iconic California enterprise, and now it’s not.
Wells Fargo can move, sure, but they are still infected with that California pathogen.
It won’t affect their Charlotte location. Wait till those California executives have to live through a summer in Florida.
Charlotte is filled with halfbacks. Halfbacks are those who moved to Florida, couldn’t take the bugs and heat and moved halfway back to NC
They should move their HQ to Mexico City, in the country they funnel the most remittances to.
No telling what happens to Florida when he terms out in 2027.
He is not a great campaigner.
Probably cannot win the GOP Presidential nomination.
Probably cannot beat a strong Democrat candidate nationally.
NC isn’t a peach of a place either in summer.
You’re right about the summer in the cities. Summer in the NC mountains is where the Floridians go.
People move to NC cities because they have heard they can eat dinner out of doors ten months of the year. That’s true, but it’s July and August you don’t want to eat al fresco.
There were some on this site that said it.
Wells Fargo should rightly move straight to hell, nothing but corrupt thieves.
Having Wells Fargo in Florida is likely a negative for Florida.From Wikipedia:
In an article from the American Bankruptcy Institute Journal, Wells Fargo employees reportedly "opened as many as 1.5 million checking and savings accounts, and more than 500,000 credit cards, without customers' authorization."
In December 2016, it was revealed that employees of the bank also issued unwanted insurance policies. These included life insurance policies by Prudential Financial and renters' insurance policies by Assurant. Three whistle-blowers, Prudential employees, brought the fraud to light. Prudential later fired these employees, and announced that it might seek damages from Wells Fargo.
The bank was able to prevent customers from pursuing legal action as the opening of an account mandated customers enter into private arbitration with the bank.
In September 2016, California suspended its relationship with the bank. John Chiang, the California State Treasurer, immediately removed the bank as bookrunner on two municipal bond issuings, suspended investments in Wells Fargo, and removed the bank as the state's broker dealer. Chiang cited the company's disregard for the well-being of Californians as the reason for the decision, and indicated the suspension would last for a year. Chiang later extended these sanctions against the bank to last for a second year, citing the "... opaque manner with which the bank continues to do business and the frequency of new disclosures of wanton greed and lack of institutional control" as his reasons for doing so.
In April 2018, new allegations against Wells Fargo were reported, including signing unwitting customers up for unnecessary auto insurance policies, with the possibility of an additional $1 billion fine.
In August 2023, NBC News reported new allegations that since 2022, accounts have been created without the knowledge of their ostensible owners.
Wells Fargo scammed millions of customers just a few years ago Florida, with its long history of fraud criminals and land hustlers is a great place for their headquarters.
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