Wells Fargo Museum Opening on Avenue Of The Arts.

Wells Fargo & Co., the San Francisco based banking company that took over Wachovia Corp in 2008 will open the Wells Fargo History Museum at 123 South Broad Street on the Avenue of The Arts in the former Fidelity Bank building.  The museum’s collection will include two red stage coaches, old Philadelphia bank charters signed by Revolutionary War financiers and slave traders Robert Morris and Thomas Willing, a model War of 1812 financier Stephen Girard’s bank, and a large cache of historically relevant banking documents.

Wells Fargo & Company (NYSE: WFC) is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization.  Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit card. In 2011, Wells Fargo was the 23rd largest company.  In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the financial crisis of 2007–2011. The firm’s primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota.  Wells Fargo in its present form is a result of an acquisition of California-based Wells Fargo & Company by Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte, NC-based Wachovia. Although Norwest was technically the surviving entity in the 1998 merger, the new company renamed itself Wells Fargo, capitalizing on the 150-year history of the nationally recognized name and its trademark stagecoach. Following the acquisition, the company transferred its headquarters to Wells Fargo’s headquarters in San Francisco and merged its operating subsidiary with Wells Fargo’s operating subsidiary in Sioux Falls.  In 2010 Wells Fargo had 6,335 retail branches (called stores by Wells Fargo), 12,000 automated teller machines, 280,000 employees and over 70 million customers.  Wells Fargo is one of the Big Four banks of the United States with Bank of America, Citigroup and JP Morgan Chase. (Source Wikipedia)

 Avenue Of The Arts Real Estate

The Avenue of The Arts is the name former Mayor Ed Rendell gave the segment of Broad Street in Center City that stretches from City Hall (at Market Street) to Washington Avenue.  The Avenue of the Arts is home to many of Center City Philadelphia’s cultural institutions, most notably the Kimmel Center – home of the Philadelphia Orchestra, the Academy of Music, Merriam Theatre, Wilma Theater, Suzanne Roberts Theatre, and The Merriam Theatre. Buildings for the University of the Arts are located just south and east to the Kimmel Center.

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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog

Frank L. DeFazio, Esquire
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