Thoughts on Wells Fargo SF (TMT)
What are your thoughts on Wells Fargo’s tech group in San Francisco? How does it compare to other MMs and also boutiques in the Bay?
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A buddy is a current analyst at Wells Fargo SF's TMT group. I can say that they have a great culture. Some of the best people you'll find in finance, and they have good hours. That said, their deal flow is inconsistent, or perhaps consistently weak. When my buddy summered there, he says he pitched for 10 weeks straight and wasn't staffed on any deal. He hasn't gained much experience after he returned for FT either.
Overall, they don't have a very good reputation, at least in tech (their LevFin group is slightly better for example). There are plenty of other boutiques/MMs in the Bay Area with better reputations. But again, while they might not have the smartest people or the best deal flow, everyone seems happy there.
On a related note, everyone I've met at Wells Fargo in any group has seemed really happy there culture wise.
Wasn't there some kind of "expensegate" situation with this place? A couple associates started abusing the expense policy and due to WF's previous financial law problems, every person got interrogated when they made any use of the expense policy. A few people got fired and blamed for fraud on FINRA and many people left due to the strict policies and lawyers hounding them.
Can someone elaborate?
This happened 2-3 years ago.
Are they not still REELING from this to this day? Are lawyers not hounding them for every morsel of dinero under the sun?
How is the culture then now? Heard this event was catastrophic to the group and led to almost definite collapse
.
With all due respect, there are many other tech groups in SF with better deal flow, talent, comp, exits, and reputation. I went to a target, and we looked at Wells as a backup option since they recruit towards the end of summer and are much easier to get an offer from.
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