Wells Fargo to Sell San Francisco Headquarters as Leadership Shifts East

The bank's decision reflects a yearslong transition of its corporate focus to New York and Charlotte, while maintaining a significant workforce in California.

• Wells Fargo plans to sell its 409,000-square-foot office at 420 Montgomery St. in San Francisco's Financial District, with the sale expected to begin this month.
• The move is part of a broader strategy to consolidate operations and shift its leadership and power base to the East Coast, particularly New York and Charlotte, NC.
• The bank will maintain its presence in San Francisco by consolidating into its office at 333 Market St., where it recently renewed its lease.
• Wells Fargo has approximately 23,000 employees in California, accounting for about 10% of its total workforce, and has emphasized that San Francisco remains important to its operations.
• The sale of the headquarters marks the end of Wells Fargo's corporate history museum at the Montgomery St. location, which will be decommissioned and closed.

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