The bank obtained regulatory approval to function in Canada as a Schedule III bank in September 2012 and before this, it operated select businesses including Business Direct, First Union Rail, Capital Finance and Equipment Finance.
With its head office located in Toronto, the new branch opened in the country aims to offer lending, treasury management, foreign exchange and trade services.
The company has nearly 75 team members in the country with offices also in Vancouver, Calgary and Montreal.
Under its wholesale banking umbrella, the bank has specialized teams for commercial banking, commercial real estate, energy and global banking to support its commercial and corporate clients, the company said.
Having $1.4 trillion in assets, Wells Fargo & Company was set up in 1852 and currently offers banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores and 12,000 ATMs.
