Wells Fargo Pours $175M into Chicago Retail Banking Expansion

Wells Fargo & Co. has announced a plan to invest $175 million in expanding its retail banking operations in and around Chicago.

The San Francisco-based lender aims to increase its current count of seven branches to at least 30 in the metropolitan area.

Under the leadership of Chief Executive Officer Charlie Scharf, Wells Fargo is embarking on its first branch expansion since he took over the company four years ago.