Byline: Paul Davis
What is next for Wells Fargo & Co.?
By all accounts, the San Francisco company took a hard look at Wachovia Corp.'s banking business, which regulators agreed Monday to sell to Citigroup Inc. It also reportedly eyed Washington Mutual Inc.'s retail banking operation, which went to JPMorgan Chase & Co. last week.
Now the $609 billion-asset Wells faces a starkly different competitive landscape than just a week ago, one where Citi and JPMorgan Chase are building national operations and Wells ranks a distant fourth in terms of branches and deposits, lagging the two New York companies and Bank of America Corp.
Wells has been adamant in the past about avoiding risky transactions, …
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