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Reputation is EVERYTHING

Wells Fargo holds place 100, almost falling off the list in Barron’s magazine’s 2017 ranking of the world’s “100 Most Respected Companies,” which was published June 3. Alphabet (parent company Google) came in first.

Building trust and delivering great customer service are company tenets, but good intentions are not enough in the eyes of the public, which is losing trust in financial institutions and clamoring for more transparency and positive action.

Recent Wells Fargo Ratings:

In 2016 = No. 60 spot

In 2015 = No. 7 spot

The rankings are subjective, determined by approximately a hundred money managers who rate companies as ones they “highly respect,” “respect,” “respect somewhat,” or “don’t respect.” S&P Dow Jones Indices provides the list of companies eligible for inclusion in the survey, based on total market capitalization. The money managers also rank the factors they consider most important in determining respect for corporations — including strong management, ethical business practices, product innovation, revenue growth, stock performance, and business strategy.

At the same time, Wells Fargo was named to the top 10 2017,  in DiversityInc magazine’s “Top 50 Companies for Diversity.

 

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