Profits at Wells Fargo’s Wealth, Brokerage and Retirement division surged in the first quarter, as the firm reported a 41% increase year-over-year, contributing to record overall profits for the quarter.
OnWallStreet.com reported on April 11, that Wells Fargo, which has about $19 billion in cash on its balance sheet, may consider acquisitions, particularly with an eye toward enhancing wealth, brokerage and retirement as indicated by CEO John Stumpf in a conference call with analysts.
“That would be interesting to us,” Stumpf said.