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'25 Most Powerful Women in Banking' Includes Two Top Wells Fargo Executives; Carrie Tolstedt and Doreen Woo Ho Receive Exclusive Honors for Leadership and Achievements in Financial Services by US Banker.

Wells Fargo & Company today announced that US Banker has selected Carrie Tolstedt, group executive vice president of regional banking, and Doreen Woo Ho, president, Wells Fargo Consumer Credit Group, for the publication's inaugural ranking of the "25 Most Powerful Women in Banking." The award recognizes top female leaders in all aspects of banking -- from community banks to the largest institutions -- taking an inside look at the women behind the organizations, including their key achievements and leadership qualities.

Tolstedt and Woo Ho were selected from a pool of 4,694 candidates for their accomplishments and influence in the financial services industry. Combined, the two executives are responsible for more than $210 billion in assets and 48,000 employees nationwide.

"Carrie and Doreen are exceptional leaders who exemplify the highest level of achievement in financial services, and we congratulate them as they are recognized among the best in our industry," said Dick Kovacevich, Chairman & CEO, Wells Fargo & Company. "Their customer-focused approach has not only helped to drive success for our organization, but also it has helped Wells Fargo fulfill our vision to satisfy all of our customers' financial needs and help them succeed financially. Their contributions to team members and the community are laudable and demonstrate why they have been chosen for this award."

Tolstedt, who has more than 20 years in banking, is responsible for Wells Fargo's Regional Banking Group, which includes 23 states, $170 billion in assets, 44,340 team members, 3,000 banking stores, 6,257 ATMs and 10 million retail banking customers, and 1.1 million small business and business banking households. Additionally, she is responsible for corporate marketing and distribution strategies and is a member of the management committee for Wells Fargo & Company.

In addition to recognition by US Banker, Tolstedt has also been featured as one of five "women to watch" by Fortune Magazine (10/2002) and one of "100 Most Influential Women in Business" by the San Francisco Business Times.

Woo Ho has more than 25 years in the financial services industry and is the highest-ranking Asian American among the top five U.S. banks. She oversees Wells Fargo's Consumer Credit Group, which includes the Home Equity business and the Personal Lines and Loans business. Wells Fargo is America's leading provider of home equity accounts and personal lines and loans with a combined portfolio of $40+ billion and is also ranked the No.1 Internet bank (Gomez).

An active member of the community for many years, and in particular, an avid supporter and trustee of the San Francisco Opera, Doreen demonstrates a wide variety of both professional and personal accomplishments. Recognized as one of "100 Most Influential Women in Business" by the San Francisco Business Times and one of "America's most powerful women executives" by Money Magazine, Woo Ho led the division's growth in home equity to national leadership in 2000, growing the portfolio consistently over 30 percent over the past four years.

Doreen's key accomplishments include establishing the National Home Equity Group at Wells Fargo shortly after Wells Fargo/Norwest merger; spearheading private label partnerships with blue chip brands; overseeing the launch of the Company's national Internet home equity application through in 1999; and launching innovative products such as the Home Asset Management Account and Equity Line with Flexibility and Platinum card access. The portfolio outstandings for the group stands at $40 billion with over 2 million accounts and over 5,500 employees.

According to US Banker, women dominate the banking industry's workforce, making up 75 percent of the employees. The 25 Most Powerful Women in Banking rankings will appear in the October 2003 issue of US Banker.

About Wells Fargo & Company

Wells Fargo & Company -- including the only "Aaa"-rated bank in the United States - is a diversified financial services company with $370 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,800 stores and the Internet ( across North America and elsewhere internationally.

CONTACT: Dennis Wyss, +1-415-396-1144, or Janis Smith, +1-415-396-7711, both of Wells Fargo & Company

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Publication:PR Newswire
Geographic Code:1USA
Date:Oct 7, 2003
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