Wells Fargo is to open full corporate banking services in 20 countries, the Financial Times reports. In Asia, markets targeted by Wells Fargo include China, Hong Kong, Australia, Japan, India, South Korea and Singapore, according to the newspaper. It is not clear what time-frame the group has set for this ambitious expansion. The bank has traditionally earned only a negligible proportion of its revenues outside the United States.The shift in strategy for Wells Fargo highlights the fact that while banks in Europe are reducing their exposure to Australia (and, in some cases, pulling out) there are pools of capital willing to take their place.However, if Wells Fargo wants a banking licence in Australia it may have to join a slow-moving queue at the Australian Prudential Regulation Authority's doors.