Kuehner, Katie, American Banker
Byline: Katie Kuehner
Wells Fargo & Co. is funding a study of Asian-American business owners with the aim of providing them with better service.
The $1.3 trillion-asset San Francisco company has given $208,000 to the U.S. Pan Asian American Chamber of Commerce Education Foundation in Washington to study the characteristics and interests of business owners among six different Asian-American groups: Chinese, Asian Indian, Filipino, Korean, Vietnamese and Japanese.
"We're trying to learn the differences between the groups, and how the characteristics of their cultural orientations affect the challenges they face when trying to bring their businesses into the mainstream and grow their businesses," said Patrick Yalung, regional president for the Wells' D.C. region and national spokesman for the company's Asian business services.
The foundation intends to use the study's findings to develop educational initiatives to help mentor new businesses, as well as help regional businesses expand into national concerns, said Susan Au Allen, its chief executive.
Settling in at B of A
Sallie Krawcheck is working hard to fit in at Bank of America.
On Wednesday the Charlotte company's new head of global wealth and investment management bought 63,000 shares of stock in her new employer, paying roughly $1 million for the stake, according to a filing with the Securities and Exchange Commission. …