Incoming WF SA, looking for some input from fellow monkeys on what they know about the different WF Locations (SF, NY, Charlotte, Houston, etc.), the groups within, and how they stack up against each other.
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The Renewable Energy & Environmental Finance (REEF) group in San Francisco has 120k base and 80% bonus for analysts and unreal work life balance. The Real Estate group in San Francisco does pretty well too.
Are there any other groups with higher base?
Can I pm u
sure thing
Can you explain or PM me more about what this group does? I'm in SF already and I'm very passionate about environmental issues.
The REEF group does Tax Equity financing for utility scale solar, wind, offshore wind, and battery storage projects. So Wells Fargo makes a partnership with the developer company (the sponsor) in which the sponsor will get the financing to build the project and Wells Fargo will receive the tax benefits in the form of PTCs (Production Tax Credits) or ITCs (Investment Tax Credits). The REEF group has 2 teams, the Business Development/Originations team, which sources and diligences the deals, and the Portfolio Management team, which manages how the investments are performing and if and when they are to be sold.
does NY industrials, NY fig, or NY sponsors have better PE exits?
Sponsors > Industrials > FIG
source: worked at WF
types of exits from sponsors and industrials? all MM and UMM?
Industrials over FIG is laugh out loud funny. Are we going by fees here? What are we going by? If we’re going by fees, I’d say FIG is doing 3-5x the amount of revenue as industrials. Left WF within the last few years and don’t have reason to believe things are any different. FIG also does most of their M&A in house.
The industrials thing is just a strange WSO narrative.
What are your thoughts about industrials CLT vs NYC? I know the silos are different and that FP&P is one of the biggest which is just in CLT.
M&a is a good group. Coverage doesn't do a lot of modeling at WF, so you get a lot of modeling reps. Hours are bad, as expected as an analyst in m&a.
The New York City office is arguably one of the nicest offices in the street. Coverage/product bankers sit on the 64/65th floor. The groups that clearly stand out are REGAL, Sponsors, and FIG.
Note that the CLT office is a complete POS and outdated AF for those wondering
New York office is outrageous. I lateraled to a “top EB” lol and 30 Hudson yards was way nicer than my current office. Conference rooms on 63rd floor are really nice.
Top groups are Industrials, FIG, Regal, M&A, and Sponsors
Exits wise, Sponsors is probably the strongest, following by Industrials/M&A
Can you walk me through the industrials thing? As someone who used to work at WF, I just don’t get it.
Deal flow has been quite high over the past year, and the group has been hiring to support growing deal volume.
In regards to exits, industrials has had solid placement in MM/UMM funds.
How about DCM and FIG in Charlotte? TMT Charlotte?
Do not do TMT CLT. Former employee at the bank.
WF TMT also just had a couple of MDs get poached by Truist
I guess former sums it up...lol. Anything good in Charlotte?
M&A, Regional Investment Banking (middle-market M&A group), Lev Fin, Healthcare, Industrials, Power — just depends on what you want.
Healthcare solid?
Are M&A and lev fin busy or dead right now? Is PUR in Charlotte?
Are HC and TMT strong in Charlotte?
TMT isnt strong in either office
You work in NY office or CHT?
Is NYC healthcare a strong group? Also what exactly is Wells GICG (Global Institutional Client Group)? Is GICG just another name for sponsors?
GICG is just the Financial Sponsors Group. They recently changed their name to Financial Sponsors but you will still see GICG as they transition out of their legacy name.
How is healthcare in general at WF? Lots of pitching or actual executions?
anyone know about WF in Asia? They seem to be in hiring mode
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