On March 18, 1852, in New York City, Henry Wells and William
G. Fargo join with several other investors to launch their
namesake business, today one of the world’s largest banks.
The discovery of gold in California in 1849 prompted a huge
spike in the demand for cross-country shipping. Wells and
Fargo decided to take advantage of these great opportunities.
After later mergers, the Wells Fargo Bank American
Trust Company—shortened to the Wells Fargo Bank
in 1962, became, and has remained, one of the biggest
banking institutions in the United States.