A quick search on this forum shows multiple threads crapping on Wells Fargo TMT for having no dealflow and being a pitch sweatshop, but they seem to be winning quite a few major deals recently—Netflix and Warner Bros, Global Payments and Worldpay, Hulu and Fubo, a $900M IPO, $4B acquisition for T-Mobile, and some others, all within the past twelve months.
Are they having a comeback, or is this just a fluke?
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Based on the most helpful WSO content, Wells Fargo's TMT group has been making notable strides recently. While historically criticized for limited deal flow and being a "pitch sweatshop," the group appears to be gaining traction. Recent major deals, such as Netflix and Warner Bros, Global Payments and Worldpay, Hulu and Fubo, a $900M IPO, and a $4B acquisition for T-Mobile, suggest a significant uptick in activity within the past year.
This improvement aligns with broader efforts by Wells Fargo to revamp its investment banking division. The bank has been hiring senior talent with strong relationships, including the former Head of Technology M&A from Morgan Stanley, and has been consolidating its position in the top 10 for IB fees. While some skepticism remains about its ability to sustain this momentum, these recent wins indicate that Wells Fargo TMT is indeed making a comeback rather than this being a mere fluke.
Sources: Is Wells Fargo poised to become the next BB?, Lincoln International 2021 thoughts?, Is Wells Fargo poised to become the next BB?
Split fees 50/50 on Warner bros side, the largest deal of 2025. What do you think
Can confirm WF TMT has been a great place to work - I’ve had a good experience with visibility from the senior bankers, deal flow and overall team support
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