Wells Fargo beefs up in FX e-commerce

Steve Godfrey at Wells Fargo
Stephen Godfrey, Wells Fargo

As the biggest mortgage lender in the US, now backed by Warren Buffett-owned investment conglomerate Berkshire Hathaway, San Francisco-based Wells Fargo has not held a leading position in the foreign exchange market, but the bank is investing in the expansion of its capabilities, most recently in electronic commerce.

Trading technology vendor Integral last week revealed it had been chosen by Wells Fargo to develop a new electronic FX pricing system, completing the project in just three months. T