A new survey of money managers has found that Wells Fargo & Co. is the nation's least-respected company, according to Barron’s annual ranking of 100 U.S.-based companies.
The Washington Post reports on a survey by Barron's that has Wells Fargo -- Colorado's largest bank -- ranking lower this year than two Big Tobacco companies, which came in at Nos. 98 (Altria Group) and 99 (Phillip Morris). Wells Fargo ranks dead last at 100.
"The weekly financial magazine says it polled America's money managers over six weeks to gauge their attitudes on the 100 largest publicly held companies in the S&P 500 Index," the Post reports. "The participants were asked to select one statement reflecting their opinion: highly respect, respect, respect somewhat and don't respect."
The San Francisco -based bank had been ranked at high as No.7 on the annual list in 2015, but its ongoing struggles amidst its fake account scandal, revealed in September, has hurt its credibility with money managers.