Wells Fargo & Co.'s chief executive officer said the company has no plan to follow Bank One Corp.'s lead in setting up an Internet-only bank.

Our competitive advantage is that customers have access to all of the channels they want to use, Wells president Richard M. Kovacevich said last week.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.