Wells Fargo & Company (NYSE:WFC) UBS Financial Services Conference February 11, 2025 8:50 AM ET
Company Participants
Mike Santomassimo – CFO
Conference Call Participants
Erika Najarian – UBS
Erika Najarian
Good morning, everybody. So welcome to day two of the UBS Financial Services Conference. Up here with me we have Wells Fargo CFO, Mike Santomassimo. Welcome.
Mike Santomassimo
Great. Thanks for having me.
Erika Najarian
Absolutely. We were actually just out there while getting Mike talking about the first 22 days of the new administration. Maybe talk to us about, have you seen a notable shift in business sentiment and has that translated at all into activity?
Mike Santomassimo
Well, I think you look at the election, right after the election and sort of the — into where we are now, I think there’s certainly this optimism that the administration is going to be much more pro growth, pro-business, remove a lot of the obstacles that may get in the way of growing the economy, emerging businesses, a whole bunch of different activity. And I think that optimism is still there. And I think you’ve seen it in the engagement with clients, you’ve seen it in the dialog, you’ve seen it in a lot of clients now considering doing things that just a year ago, they probably wouldn’t have done. And so I think that’s really, really good. As you said, we’re 22 days into it. And I think there’s still some uncertainty in terms of where a lot of the policy may go across in the near term. And so I think that is putting a little bit of caution into actually pulling the trigger in terms of doing a deal or some of the activity that’s there. But I think you sort of have to look a little bit past the first couple of days, a couple of weeks and we still expect to see that momentum build throughout the
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