Wells Fargo ad to feature a lesbian couple

23 Apr 2015 | Author: | No comments yet »

Insider Selling: Michael J. Heid Sells 18,000 Shares of Wells Fargo & Co. Stock (WFC).

Wells Fargo & Co. has closed its U.S. retail electronic equity market making business, the most recent example of large banks exiting non-core trading businesses.

A year after Droga5 featured a male couple with a baby in an ad for Honey Maid, the second largest U.S. bank by number of branches depicts two women practicing sign language before they meet the deaf girl they plan to adopt.Wells admitted San Mateo, Calif.-based Context360, Sunnyvale, Calif.-based Bracket Computing and MotionSavvy of Rochester, N.Y., to its accelerator class of 2015.

The three startups were picked from a pool of almost 300 applicants. “If a startup can sell its idea to us, they can sell it to a lot of other banks, which can benefit the entire financial services industry,” said Steve Ellis, Wells Fargo’s head of wholesale services, who played a key role in the accelerator’s creation last year. As of March 31st, there was short interest totalling 37,103,996 shares, an increase of 11.3% from the March 13th total of 33,326,996 shares, AnalystRatings.Net reports. Working together, we can help you prepare financially for when two becomes three.” The tagline remains, “Together we’ll go far.” “Learning Sign Language” is the first of nine TV ads in a broader push that breaks Monday and runs throughout the year.

The trend has played out across Wall Street since the financial crisis, resulting in several of the largest global banks trimming their equities and fixed income trading businesses. The effort—the first big campaign since BBDO became lead creative agency last spring—also includes social media marketing and print, outdoor, digital and radio ads. Credit Suisse also stopped its retail market making activities in the first quarter and is instead operating an agency model in which the bank takes orders for execution on behalf of its clients. For starters, Wells doesn’t require an exclusive relationship, so entrepreneurs don’t have to feel like they’re shutting doors to other opportunities by teaming up with Wells. Other TV ads tell the stories of small-business owners managing sales calls, a truck driver collecting momentos for his daughter and a retired woman taking her older friend to a hair salon.

Plus, the bank is eager to let the startups tout that they’re working with Wells Fargo, a powerful calling card when reaching out to potential customers or investors. (Startup entrepreneurs — and the reporters who follow them — know firsthand how often young companies are admonished by high-profile clients not to disclose their names publicly.) One informal qualification for entrepreneurs seeking admission to the Wells Fargo accelerator program must be the ability to explain what their startups do in simple enough terms so that a reporter can understand. The judge weighing a $25 billion investor lawsuit over the 2008 bailout of American International Group, Inc. (NYSE:AIG) [Trend Analysis] challenged U.S. arguments that assuming control of the insurer didn’t amount to taking shareholder property. We remain committed to continuing to provide our clients with a top tier offering.” Citadel, KCG and UBS respectively held the top three spots for market share of U.S. retail order execution at the end of last year, according the Tabb Group. “Competition has actually been ratcheted up lately,” said Larry Tabb, founder of the research group. “Some of the new folks entering the market are pressuring the existing market and changing some of the dynamics.” He highlighted market making startup Arxis Capital and G1 Execution Services, a company that was previously a unit of E*Trade and acquired by Susquehanna International Group LLP last year. Maurice “Hank” Greenberg’s Starr International Co., AIG’s largest shareholder before the bailout, contends the terms of the initial $85 billion rescue loan illegally gave the government an 80 percent equity stake in the insurer.

For Wells Fargo, the goal is to reflect the diversity of its customers and get beyond products and services to tell emotional stories that illustrate universal truths, according to chief marketing officer Jamie Moldafsky. As the returns are concern, return on equity was recorded 7.00% and firm increased its return on investment 5.10% while its return on asset stayed at 1.40%. ARRIS Group, Inc. (NASDAQ:ARRS) [Trend Analysis] reported that it has agreed to buy Pace plc (PIC.L) in a stock and cash deal valued at $2.1 billion (£1.4 billion).

Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company’s stock. Moldafsky acknowledged the likehood of backlash for the ad’s portrayal of a same-sex couple, but she noted that Wells Fargo is a longtime supporter of the LGBT community and, since 2009, has had a unit that specializes in financial advice for same-sex couples. “We really felt that this is a great way to both represent the notion of family and adoption—which is obviously a very important part of our community and many of our customers’ lives—and we do it in a way that felt very true to our perspective about diversity and inclusion,” Moldafsky told Adweek. “Sign Language” has been in the works since the fall and was tested at different stages of its development, from the initial concept to the produced ad, according to the CMO. And although the concept evolved during development—an earlier version revolved around an international adoption—the basic scenario of a lesbian couple adopting a child never changed. The Company provides retail, commercial and corporate banking services through banking stores and offices, the Internet and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in other countries.

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