Wells Fargo 2012 Annual Report Download - page 11

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ƌɄ ɄPutting the country on a sustainable fiscal path.
Thiswill give confidence to trading partners, creditors,
and most important, to consumers and business
owners— those who create jobs and invest in this country.
ƌɄ ɄUpdating and simplifying our antiquated tax code.
Tax policy should promote growth in the U.S.
ƌɄ ɄRe-evaluating regulatory burdens. When Imeet with
business leaders of companies large and small, Ihear
stories of the regulatory burdens and “redtape” that
get in the way of their doing business, hiring workers,
and the like. Iam in favor of sound regulations, playing
by the rules, level playing fields, and regulators who
have the authority to hold wrong-doers accountable.
However, we have seen regulations in all industries
that have unintended consequences, such as increasing
the cost of credit or slowing economicrecovery.
ƌɄ ɄPromoting the U.S. We are blessed in this country
with huge advantages: an abundance of natural
resources, especially energy; the best rule of law;
aculture of innovators and entrepreneurs; the best
post-secondary schools in the world; and the world’s
best farmers and manufacturers. The world wants
what we produce, and our policies should support that.
ƌɄ ɄImmigration reform. Our nation has always
won as a team. We’re better together than apart,
and I’m encouraged by what I’m hearing out of
Washington,D.C., on this topic.
The American spirit is as strong as ever. And Americans
will be more confident when we see elected ocials
working together in a way that supports growth with
sensible policies and strategies for fiscal issues, taxes,
trade, regulations, and immigration.
In appreciation
InApril2012, Mackey J. McDonald retired from our board
of directors after 18years of service to our company. Mackey
served on the boards of two predecessor companies, starting
with First Union in1994 and also with Wachovia Corp.
He brought extensive experience from his distinguished
career, and we benefited from his pragmatic approach,
excellent instincts, and vast experience in various
markets and consumer-oriented businesses. This made
Mackey an exceptional resource as our company grew and
changed. We thank him for his long-standing service and
contributions to WellsFargo, and we wish him all the best.
We welcomed Howard V. “Rick” Richardson to our
board of directors as of Jan.1. Rick is a retired partner
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benefit from his more than three decades of experience
in a wide range of leadership, audit, and business
advisory positions. He serves on the board’s Audit and
Examination Committee.
We also want to thank all of our stakeholders, including
team members, customers, communities, and shareholders.
Your confidence in and support of WellsFargo remind
uswhy we’re so excited to serve customers each and
every day. And the best part is when we can all celebrate
our accomplishments together.
As a result of our combined eorts, millions of
customers are better o financially than they were a
year ago, communities across the country are more vital,
businesses small and large have the financial support and
guidance they need to grow, and our economy is showing
signs of increased vibrancy due to a housing market
onthemend.
2012 was an outstanding year for WellsFargo’s
customers, team members, communities, and shareholders.
Because, in the end, it all comes down to how well we
listen to the needs of all stakeholders and execute in ways
that help them succeed.
And that’s why we look forward to many more
conversations with you.
John G. Stumpf
Chairman, President and Chief Executive Ocer
WellsFargo & Company