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Wells Fargo’s focus on energy show growth strategy

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NEW YORK — Wells Fargo & Co is angling to cash in on the U.S. energy boom, as the fourth-largest U.S. bank looks for new avenues of revenue growth to overcome a slump in mortgage lending, its traditional driver of profits.

The bank is increasingly looking for lending, investment banking and investing opportunities in the oil and gas sector. It says it now employs the largest staff of petroleum engineers of any U.S. bank.

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