Wells Fargo Securities Hires John Jinishian as Head of West Coast Technology M&A (WFC)

Stockholders of Wells Fargo & Company WFC yesterday elected 14 nominees to the Company's board of directors and ratified the appointment of KPMG LLP as the Company's independent auditors for 2011. Stockholders also approved the 2010 compensation of the Company's executives named in its proxy statement, and a proposal to provide stockholders with an advisory vote on named executives' compensation every year. Stockholders did not approve a proposal to amend the Company's by-laws to allow stockholders owning 10 percent of the Company's outstanding common stock to call special meetings of stockholders. Stockholders also did not approve a proposal to provide for cumulative voting in contested director elections, a proposal to require the chairman of the board to be an independent director, a proposal to provide stockholders with an advisory vote on director compensation at each annual meeting, or a proposal requesting the audit committee conduct an independent review of the Company's internal controls for mortgage servicing operations. The 14 nominees elected to the Wells Fargo Board are: John D. Baker II, executive chairman of Patriot Transportation Holding, Inc., Jacksonville, Fla.; John S. Chen, chairman and CEO of Sybase, Inc., Dublin, Calif.; Lloyd H. Dean, president and CEO of Catholic Healthcare West, San Francisco; Susan E. Engel, CEO of Portero, Inc., New York; Enrique Hernandez, Jr., chairman, president and CEO of Inter-Con Security Systems, Inc., Pasadena, Calif.; Donald M. James, chairman and CEO of Vulcan Materials Co., Birmingham, Ala.; Mackey J. McDonald, retired chairman and CEO of VF Corp., Greensboro, N.C.; Cynthia H. Milligan, dean emeritus of the College of Business Administration at the University of Nebraska-Lincoln; Nicholas G. Moore, retired global chairman of PricewaterhouseCoopers, New York; Philip J. Quigley, retired chairman, president and CEO of Pacific Telesis Group, San Francisco; Judith M. Runstad, of counsel to Foster Pepper PLLC, Seattle; Stephen W. Sanger, retired chairman and CEO of General Mills, Inc., Minneapolis; John G. Stumpf, chairman, president and CEO of Wells Fargo; and Susan G. Swenson, retired president and CEO of Sage Software –North America, Irvine, Calif.