Wells Fargo to invest US$175mil in Chicago area

Bigger presence: A Wells Fargo ATM branch in San Bruno, California. As the San Francisco-based lender consolidates its expansion programme, it plans to open at least 30 branches in the Chicago metropolitan area. — AFP

CHICAGO: Wells Fargo and Co plans to spend about US$175mil to expand its retail banking presence in and around Chicago.

The San Francisco-based lender intends to have at least 30 branches in the Chicago metropolitan area, up from seven currently, according to a statement on Tuesday. The additions will create about 200 jobs, Wells Fargo said.