Quick: Can you name the most valuable bank in the world? It isn’t who you think.
San Francisco-based Wells Fargo & Co recently surpassed Industrial & Commercial Bank of China as the lender with the largest market value in the world. Now, Wells Fargo's market capitalisation is approaching $300 billion, a first for a US bank - and $42 billion and $120 billion more than JP Morgan and Citigroup, respectively.